1. Suppose there are 1000 identical wheat farmers. For each, TC = 10 + qz. a. Derive the individual rm's supply curve. b. Derive the
1. Suppose there are 1000 identical wheat farmers. For each, TC = 10 + qz. a. Derive the individual rm's supply curve. b. Derive the market supply curve. c. Calculate short-run equilibrium a. market quantity Q h. individual rm quantity q c. price p (1. Graph the rm's cost curves against price or m to depict the rm's prot maximizing decision. How much prot or loss does each rm make? Graph the market equilibrium g. Will rms enter or exit in the long run? rho
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