Problem 3: Monopolistic Competition [6 points] Suppose we are studying a coffee shop, that sells only coffee, and operates in a monopolistically competitive environment. This coffee shop sells coffee made from its own brand of coffee beans, known affectionately as \"Power Beans\". This coffee shop faces its own individual demand curve given by: D = 120 30p Now suppose that in this example, the coffee shop has the total costs defined by: TC = 40 + 2Q Note: I have not given you the MC curve, but you can institutively figure out what the MC is by looking at the TC curve above. 11) Draw a figure here that includes: [2 points] a. The Demand Curve b. The MR Curve c. The MC Curve d. The ATC Curve 12) Given the market demand, and the coffee shop's total cost curve, what quantity does it choose to produce, what is the market price, and what are their short-run profits? Show all of y0ur work. [HINTz This question will take multiple steps. Start with what needs to be true for this firm to be profit maximizing] [3 points] 13) In the Long-Run, what would we expect to happen to the price of coffee for \"Power Beans\