Consider a monopolistically competitive market with N firms. Each firm's business opportunities are described by the following equations: Demand: Q=160N−P Marginal Revenue: MR=160N−4Q Total Cost: TC=150+Q2 Marginal Cost: MC=4Q As N rises, the demand for each firm's product . How many units does each firm produce? 20N 20 1,280N 20N What price does each firm charge? 140N 140N 180N 160N How much profit does each firm make? 2,800N2 3,200N2−150 150+400N2 2,400N2−150 In the long run, firms will exist in this market.

Ann and jack have been partners for several years. their​ firm, a​ & j tax​ preparation, has been very​ successful, as the pair agree on most​ business-related questions. one​ disagreement, however, concerns the legal form of their business. for the past two​ years, ann has tried to convince jack to incorporate. she believes that there is no downside to incorporating and sees only benefits. jack strongly​ disagrees; he thinks that the business should remain a partnership forever. ​ first, take​ ann's side, and explain the positive side to incorporating the business. ​ next, take​ jack's side, and state the advantages to remaining a partnership. ​ lastly, what information would you want if you were asked to make the decision for ann and​ jack? which of the following statements are the advantages of a partnership compared to a​ corporation? ​(choose all that​ apply.) a. less expensive to organize. b. ownership is readily transferable. c. lower income taxes. d. owners have limited liability. e. long life of firm.