I am working on a practice exam and I am unsure how to go about this. Question 8.

Illinois State University : ECO 1( X + C reggienet.illinoisstate.edu/portal/site/a9775572-ec12-4e46-a208-82625caabd11/tool/46a4dc0e-f39d-449e-a717-26e56cf3f7e8/Showitem?returnView=&studentitemld=0&b... ( To B IlinoisState.edu Giving News Events Map Apply Search/A-Z My Reggienet BT C. Marginal cost is minimized at B because at that quantity, marginal cost equals average variable cost. O D. All of the above are correct. Reset Selection Question 8 of 50 1 Points At Bert's Bootery, the total cost of producing twenty pairs of boots is $400. The marginal cost of producing the twenty-first pair of boots is $83. We can conclude that the A. average variable cost of 21 pairs of boots is $23. B. average total cost of 21 pairs of boots is $23. O C. average total cost of 21 pairs of boots is $15.09. O D. marginal cost of the 20th pair of boots is $20. Reset Selection Question 9 of 50 1 Points A dairy produces and sells organic milk. Last year it sold 500,000 gallons of milk at a price of $7 per gallon. For last year, the firm's A. total revenue was $3.5 million. B. economic profit was $3.5 million. C. accounting profit was $3.5 million. + O D. explicit costs were $3.5 million. Reset Selection