A monopoly is producing the quantity that maximizes its profit. The firm's total revenue is $3,100,000, its total variable cost is $2,200,000, and its total fixed cost is $500,000. A change occurs which causes the total fixed cost to increase to $575,000. How should the firm respond?

1- None of the answers listed is correct.

2- The firm should decrease its output and charge a higher price.

3- The firm should increase its output but charge the same price.

4- The firm should increase its output and charge a higher price.

5- The firm should increase its output but charge the same price.