The figure shows the cost structure for a monopolistically competitive firm selling a particular brand of shoes. MC is the marginal cost curve, and AC is the average cost curve. If the firm produces 1 thousand pairs of shoes, does it operate with excess capacity? If so, how much? The firm's excess capacity is thousand pairs of shoes. (Enter your response as a whole number.) C Price (dollars per pair) 80.00- 76.00- 72.00- 68.00- 64.00- 60.00- 56.00- 52.00- 48.00- 44.00- 40.00- 36.00- 32.00- 28.00- 24.00- 20.00- 16.00- 12.00- 8.00- 4.00- 0.00+ 0 MC 5 6 7 8 2 Quantity (pairs of shoes in 1000s) AC 10

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