A recession greatly affects the daily market demand for Maine lobsters, which can be described as QD = 3000 + 250I - 250P (I is the average American income in $1000s). Thanks to the recession, that average income falls from $32,000 to $24,000. All lobster fisherman are identical and face the same relationship between their total daily costs and daily output (q): TC = 1/2*q^2 + 4q + 200, which yields a marginal cost of MC = q + 4. You should assume that market output is the sum of all firm output (Q = N*q, where N is the number of lobster fishermen). Use this information to answer the following questions.

3.3.

Before the recession, there were 250 lobster fishermen. Find the market supply curve.

		A.QS=(1/250)P-4
		B.QS=(1/250)P+4
		C.QS=250P+1000
		D.QS=250P-1000