Uppose you are given the following information about a particular industry: market demand푄푑=1600―150푃short run market supply푄푠=250푃the firm total cost function consists of a fixed cost of 45 and a variable cost of 푞25assume that all firms are identical in a market that is perfectly competitive. a) (1 point) correctly write the firm total cost functionb) (4 point) using the demand and supply curves for this industry, find the short run equilibrium price and quantity in the industry. c) (1 point) using the total cost function from part (a), derive the marginal cost function for firms in the industry. d) (4 points) using your answers to parts (b) and (c), find the quantity produced by each firm in a short run competitive equilibrium. find the profit or loss of each firm in the short run equilibrium.