5. (10 points) Hoboken has a thriving market for musical instruments, so thriving that it is perfectly competitive. Three of the stores in Hoboken are owned by Georgia, Ira, and James. They each produce some quantity of musical instruments. Their short-run cost curves are graphed below. Georgia Ira James 45 45 MC 40 MC 40 MC 35 35 ATC 30 30 25 ATC- 25 ATC Cost ($) Cost ($) 20 20 15 AVC 15 AVE AVC 10 10 5 0 0 3 5 6 7 3 5 6 7 3 4 5 6 7 QInstruments (in thousands) Q Instruments (in thousands) Q Instruments (in thousands)(C) (6pts) Fill out the below table. For each market price, highlight whether Georgia, Ira, and James will operate or shut down in the short run, and whether they will be making profits. Put a \"Y\" if they will operate in the short run, or if they will be making profits. Put a \"N" if they will shut down in the short run, or are making negative prots. (Note that prots here refers to total prots and not variable prots) Georgia Ira James $5 $10 $15 Market Price Operates in Makes Profits? Short Run? Operatesin Makes Short Run? Prots? Operates in Short Run? Makes Prots? $20 $25 $30