please solve this with steps.

2. Chip manufacturer from Taiwan. Consider a perfectly competitive chip manufacturer from Taiwan that continues operating after the Chinese producers shut down. These are the long-run marginal and average cost curves and the demand, before the Chinese producers shut down. Show the effect of shutting down the Chinese factories on the Taiwanese firm's profit maximizing decision. Shutting down the Chinese factories affects the cost functions/demand (choose one). On the graph, (1) label the cost functions; (2) Indicate the new profit maximizing level of output q*; (3) Show the profit/loss. Indicate whether the Taiwanese firm makes a profit/loss (choose one) MC ATC D FI