One hundred perfectly competitive firms face the given cost function:
TC = 200 + 20 q + 2q2;
Moreover, the market demand curve is:
Qd = 100 – P;
Find out the short-run supply curve of the firm and the market. Illustrate the price, quantity, profit or loss for each firm? Is this industry in the long-run? If not, determine the price in the long-run and determine the number firms in the industry?