Question

I am completely stuck. I don't necessarily want someone to solve this problem for me, but give me enough guidance on how to get started. Of course, I will still probably be stuck LOL. I NEED A TUTOR :) :) :)

Assume that a purely competitive firm is selling 2000 television sets a day at a cost of $90,000. Assume that if the firm sells 1,600 units per day, its total cost would be $60,000, and if it sold 1,000 units per day, it would have a total cost of $55,000.

3. If the industry is perfectly competitive, what would be the long-run equilibrium market price?

4. If your answer to c is the market price and every firm in the industry is earning a normal profit of 15%, calculate what that profit would be.