Kindly assist with answers

1.6. Which of the following statements is incorrect? A. When a marginal value is positive, the corresponding total value decreases. B. When the total value decreases, the corresponding marginal value is likely to be positive. C. When the average value reaches a maximum, the marginal value is equal to it. D. When a marginal value is less than the average value, the average value may still be increasing. E. For the profit-maximising rule to hold, marginal revenue is equal to marginal cost. 1.7. Nkosi consumes only jeans and T-shirts. Suppose that he maximises total utility within his budget constraint and the price of jeans is R250, where the last pair yielded 300 units of extra satisfaction. If the price of a T-shirt is R90, then the extra satisfaction from the last T-shirt must be A. 72 units. B. 450 units. C. 485 units D. 108 units. E. Impossible to calculate with the information provided. 1.8. In terms of market structures, the profit-maximising rule MR = MC is followed by A. both a monopolist and not a perfectly competitive firm. B. both a monopolist and a perfectly competitive firm. C. a perfectly competitive firm but not a monopoly. D. either a monopolist or a perfectly competitive firm, depending on the shape of the demand curve. E. The profit-maximising rule MR = MC is not applicable to market structure theory. 1.9. If firms in an industry agree to fix a price at a certain level, it would be called A. collusion. B. economies of scale. C. contestability. D. predatory pricing. E. a non-profit strategy for all firms. 1.10. Suppose a perfectly competitive firm is producing at a level of output where the price is R8.00, the average variable cost is R7.00, the average total cost is R8.50 and the marginal cost is R8.00. Given this information, the firm A. should shut down immediately. B. should reduce output to reduce the loss. C. is making a loss but should not shut down. D. should increase output to maximise profits. E. is making a profit and should continue with production