Consider a perfectly competitive market, where the current number of firms is 50. Each firm has one unit of capital and can product q(1, L) = √L units of output with one unit of capital at a cost v per unit, and L units of labor at a cost w per unit in the short-run. a) Find a firm's short-run supply curve, qs(p), and the industry short-run supply curve, Qs(p). b) Given the market demand,  = 10000 - 50p, and the industry short-run supply curve,  find the short-run equilibrium price and quantity assuming that w = 1.

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