Assume the market for tortillas is perfectly competitive. The market supply and demand curves for tortillas are given as follows:  Supply curve: P = 5Q Demand curve: P = 120 - 10Q The short run marginal cost curve for a typical tortilla factory is: MC = 20q  Assuming all tortilla factories are identical, calculate the following: Equilibrium price for tortillas: __1__ Profit maximizing short run  equilibrium level of output for a tortilla factory: __2__ Given profit maximizing output as above, a tortilla factory is: __3__ Total  number of tortilla factories: __4__ Producer surplus of a tortilla factory: __5__

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