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Fill in the Blanks Suppose there are 1000 identical wheat farmers. For each, TC = 5+2q^2. Market demand is Q = 400,000 - 150p. Derive the short-run equilibrium Q, q, and p. The marginal cost of each firm is = . In a competitive market, we equate MC to to determine how much each firm should produce. The short run supply curve for the firm is q= . The supply curve for the market is Q= The short run equilibrium price is $ . The market supply at that price is . Each firm makes units