Short-Run and Long-Run Supply. A kiwi producer in Australia grows kiwi in a perfectly competitive market using a technology characterized by the following short-run cost function = 50 + 5²+ 10, where TC is total cost and q is total quantity of kiwi expressed in tons.

a) Compute the firm's short- run fixed cost, average total cost, average variable cost, and marginal cost.

b) Find the kiwi producer's short-run supply curve. What is the price at which the producer stops producing?

c) Assume that the number of kiwi producers in Australia equals 1,000. Compute the kiwi supply function in Australia in the short run.

d) Assume kiwi demand schedule equals Q=61000-200P. Would you expect the farmer to produce a positive quantity at the equilibrium price in the short run? Why? Why not? If your answer is positive, compute that quantity and the resulting profits.