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Thanks for the help A perfectly competitive industry that produces microchips consists of many firms that can produce 100 microchips per day at a minimal

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A perfectly competitive industry that produces microchips consists of many firms that can produce 100 microchips per day at a minimal average cost $0.50 per microchip. Each firm must also pay shipping fees for its production, and the shipping fee s per each microchip is an increasing function of the total industry output Q: s = 0.0001Q. The demand for microchips is given by Q = 6,000 - 1,000p. where p is the price of a microchip. (a) Let the microchip industry be in a long-run equilibrium. What is the equilibrium price of a microchip? How many microchips are produced? How many firms are there in the industry? What is the shipping fee per microchip? (b) Suppose that the demand for microchips increases to Q =7, 100 -1, 000p. In a new long-run equilibrium, what is the equilibrium price of a microchip? How many microchips are produced? How many firms are there in the industry? What is the shipping fee per microchip

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