"Complete the following microeconomics question, figure 1" (attached)

FIGURE 1 Prime and cost {dollars per pair} |25 IDC' ATE 1'5 50 15 MR G I {)0 20-0 300 4430 Quantity {pairs per week} 3. In the short run, what quantit3r does Lite and Kool produce, What price does it charge, and does it make an economic profit? 4. In the short run, does Lite and Kool have excess capacity and what is its markup? 5. Do you expect firms to enter the running shoes market or exit from that market in the long run? Explain your