The Market for Sweet Potatoes Consists of 1,000 Identical Firms $S T C = 100 + 100 q + 100 q ^ { 2 }$

question 18

Multiple Choice

The market for sweet potatoes consists of 1,000 identical firms. Each firm has a short-run total cost curve of $S T C = 100 + 100 q + 100 q ^ { 2 }$ , and a short-run marginal cost curve of $S M C = 100 + 200 q$ where $q$ is output. All fixed costs are sunk. What is the equation of the shortrun market supply curve?

• A) \(Q ^ { s } = 5 P - 500\) for \(P \geq 100\), and \(Q ^ { s } = 0\) otherwise.
• B) \(P = 100000 + 200000 q , \mathrm { P } \geq 200\), and \(Q ^ { s } = 0\) otherwise.
• C) \(Q ^ { s } = P / 200 - .5\) for \(P \geq 100\), and \(Q ^ { s } = 0\) otherwise.
• D) \(Q ^ { s } = 5 P - 500\) for \(P \geq 200\), and \(Q ^ { s } = 0\) otherwise.

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