Consider a monopolistically competitive market with / firms. Each firm's business opportunities are described by the following equations: Demand: Q = 240 N - P Marginal Revenue: MR = 240 N - -3Q Total Cost: TC = 100 + Q2 Marginal Cost: MC = 3Q As N rises, the demand for each firm's product V . How many units does each firm produce? 40 O 1,440 N O 40N O NWhat price does each firm charge? O 200N O 280 N O 240 N O 200 N How much profit does each firm make? O 8,000 N2 1,600 100 + N2 O 9,600 100 N2 O 6,400 100 N2 In the long run, firms will exist in this market