Question: 50 min pls O WORDS POWERED BY TINY QUESTION 5 7 points Save Answer In a competitive market 100 identical firms operate in the short

50 min pls

O WORDS POWERED BY TINY QUESTION 5 7 points Save Answer In a competitive market 100 identical firms operate in the short run. The total cost function of each firm is C(g) = 36 + q2 where 36 represents an avoidable fixed cost. a) [1 points] Compute each firm's average cost function. b) [3 points] Knowing that each firm's marginal cost function is MC(q) =2q, compute each firm's individual supply function and the market supply function. c) [3 points] Assuming that the market demand function is Q=1.100-5P, compute the equilibrium price and quantity. Compute each firm's equilibrium profits. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I Y S Paragraph Arial 14px A & X2 X 2

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