The local market for widgets has 1,000 identical producers. Each producer has the following short-run cost function: mci = 0.

The local market for widgets has 1,000 identical producers. Each producer has the following short-run cost function: 

mci = 0.05qi + 20 (i = 1,000) 

In addition, the market demand for widgets in this market is given by: Q = 275,000 - 2,500P

(a) Calculate the equation for the market supply curve.

(b) What are the market equilibrium price and quantity? How much will each firm produce?

(c) Graph the firm-level equilibrium between demand and supply.