Economics help for these

Suppose we have n firms each with an individual supply curve of QS = P. Assume that firms have a quasi-fixed

cost of $8000 (that is COST= 0 if they shut down but costs = 8000 + variable costs if they are open). There are 1000

consumers with individual demand QD = 100 -P. a) Let's start with n = 100 firms. What is the equilibrium market price, output per firm, and consumption per consumer? b) Calculate Total Consumer Surplus, Total Producer Surplus, and Social Surplus. c) Now suppose the number of firms rises to 200. What is the new equilibrium market price, output per firm, and consumption per consumer? Compare d) How does total Consumer Surplus, Producer Surplus, and Social Surplus change? Discuss.

Do fast