Use Figure 14.1, which shows the situation facing Flight Inc., a producer of running shoes, to answer the following questions: FIGURE 14.1 Problems 5 to 8 o o T MC ATC @ o T 60 Price and cost (dollars per pair) MR L 1 1 1 1 50 100 150 200 250 Quantity (pairs of running shoes per week) a) What quantity does Flight produce, what price does it charge, and what 1s its economic profit? b) In the long run, how does Flight change its price and the quantity it produces? What happens to the market output of running shoes