The market for laundering services is perfectlyr competitive and can be represented by the following supply and demand curves: Demand for laundryr by consumers: QD = 3200 200P Supply:r of laundry by firms: Q5 = - 800 + 600P where Q = millions of laundered shirts in the MARKET overall, and P = the price of laundering a piece of clothing. Each firm in this market has the same total cost TC = 5500 + c12K1000:AC = 5500fo + (131000; and MC = qf500. Notation wise q = is the number of laundered items by each firm (Q is measured in millions of items, o in items]. What's the equilibrium price in the long run in this market? At that price, how many units will be supplied in this market and how many will each firm produce? How many firms will there be? (HINT: in the long run, the market price will be such that each firm will produce where its MC = AC) 0 In the long run P=4, c|=2200. Q=2500 and N= 109605. 0 In the long run P=6, c|=2345. Q=2000 and N= ?14280. O In the long run P=10, c|=3000. Q=2262 and N= 964605. 0 In the long run P=5, c|=2500. Q=2200 and N= 880000. 0 In the long run P=4.69, q=2345. Q=2262 and N= 964605