1a. (2021 Summer Final) A perfectly competitive market is initially in a long run equilibrium, with n identical firms (n can take non-integer values). The demand curve and the short-run supply curve are given as follows.

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Supply: Q = 2P 1 thousand units

Demand: Q = 2088 4P thousand units

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The equilibrium price is [Answer] dollars per unit.

(In decimal numbers, with two decimal places, please.)

b. Continue with the last question. Suppose there is an increase in demand such that each consumer's willingness to pay increases by 100 dollars, and suppose this is a constant cost industry. Then, the quantity traded in the market is [Answer] thousand units when the market reaches a long run equilibrium again.

(In decimal numbers, with two decimal places, please.)

c. Continue with the previous question. Suppose the new entrants and the incumbent firms are all identical. After the increase in demand, 19 new firms eventually enter the market so that a new long run equilibrium is reached. The average cost curve of an individual firm is minimized at q = [Answer] thousand units.

(In decimal numbers, with two decimal places, please.)

d. Continue with the last question. The average cost at this quantity is [Answer] dollars per unit.

(In decimal numbers, with two decimal places, please.)