Solve the following question 4 to question 6

Q4: WIKKI is a firm in a perfectly competitive industry. Figure 1 shows the firm's short-run revenue and cost curves Figure 1. Revenue and Cost Curves of WIKKI Price/Cost ($) ATC MC Demand . MR - AR 12 10 3 14 23 29 Quantity (in cartons) Using the concept of shutdown point only, explain why WIKKI should not shut down the business based on profit-maximising condition. Note: You can enter a maximum of 8000 characters and you have already entered D charactersRefer to the information and Figure 2 below to answer all the questions in this section. Jake has a monopoly selling baseball shirts at the local minor league stadium. Figure 2 Price and cost MC per unit $20 ATC 16 AVC 14 10 MR 15 20 25 Quantity Q5: Using Figure 2, fill in the blanks below based on profit-maximising conditions. Quantity: Price: $ Average Variable Cost: $ Total Profit: Q6: If Jake were to produce at the allocationy efficient level of output, what quantity would he produce based on Figure 2? Explain your answer clearly