1. Consider an industry consisting of 60 firms. All firms are profit-maximizing price takers and each firm's total cost is TC=3q^2. The demand for the industry's product is Qd=60-5P.

a. What is the supply function for one of these firms (firm output (q) as a function of P)?

b. What is the supply function for the industry (industry output (Q) as a function of P)?

c. Calculate the equilibrium price and output for the industry.

d. Calculate the producer surplus for the industry.