Simon Fraser University Dec 10th Mathematical Models [50 points, Total] 1. (Total: 17 points) Suppose there is a reusable tin can manufacturer that has the following long-run cost curve: C (9) = 393- 992+ 99 MC = C'(a) where q is the number of cans a single manufacturer produces. 992-189+ 9 9 ( 9 2 - 24 + 1 ) = 9(9-132 (a) (3 points) Show the Marginal Cost = 9(q - 1)2, then find a single firm's supply curve, qs. (b) (4 points) What is the firm's average cost curve? Find the long-run price in the market. AC = O (c) (1 point) Suppose there are 30 identical firms in the market in the short run, what is the market supply curve Q' when n = 30? (d) (8 points) Create a sketch of the firm's supply curve as well as the market supply for the short run in your exam booklet. Figure 1 below is a reminder of what your graph should look like. Your solution should use the price found in part (b) along with P = {$4, $9,$16, $25} as example prices. Firm