Name: Intermediate Microeconomics HW 3 (Due date: July 21, 10:59 AM) The handmade snuffbox industry is composed of 100 identi- cal firms, each having short-run total costs given by STC = 0.5q2 + 10q + 5 and short-run marginal costs given by SMC = q + 10, where q is the output of snuffboxes per day. a. What is the short-run supply curve for each snuffbox maker? What is the short-run supply curve for the mar- ket as a whole? b. Suppose the demand for total snuffbox production is given by Q = D(P) = 1,100 - 50P. What will be the equilibrium in this marketplace? What will each firm's total short-run profits be? c. Graph the market equilibrium and compute total short- run producer surplus in this case