the bolt-making industry currently consists of 20 producers, all of whom operate with the identical short-run total cost curve STC(Q)=16+Q^2, where Q is the annual output of a firm. The corresponding short-run marginal cost curve is SMC(Q)=2Q. The market demand curve for bolts is D(P)=110-P, where P is the market price.
a) assumeing that all of each firm's $16 fixed cost is sunk, what is a firm's short-run supply curve?
b) what is the short-run market supply curve?
c)determmine the short-run equilibrium price and quantity in this industry.