stion 2 Roys Total Reveue is 18 when he sells 20 bags and his total revenue is 24 when he sells 22 bags. His Marginal Revenue equals to yet 6. wered ked out of Select one: O True ag stion O Falseion 4 If a firm is producing where MR is less than MC, red Select one: d out of O a. None. O b. the revenue gained by producing one more unit of output equals the cost incurred by doing so. ion O c. the revenue gained by producing one more unit of output exceeds the cost incurred by doing so. O d. the revenue gained by producing one more unit of output is less than the cost incurred by doing so. O e. the firm is already maximizing profits because revenue is being decreased by more than costs.Question 1 Roy is a potato farmer, and the world potato market is perfectly competitive. The market price is $25 a bag. Roy sells 40 bags Not yet week and his marginal cost is $25 a bag. Roy is not maximizing his profit. answered Marked out of Select one: 10.00 O True Flag question Falseuestion 3 Average total cost of producing 100 units of output is $5. If the marginal cost of producing the 101st unit is $6, then average total it yet cost of 101 units is less than $5. swered arked out of Select one: .00 O True Flag Jestion O Falseuestion 5 Suppose when quantity produced is zero, total cost equals to 40. When quantity produced is one, total variable cost is 30. When t yet quantity produced is two, average total cost is 45. When quantity is three, marginal cost equals to 25. swered arked out of 0.00 When quantity produced is three, average variable cost equals to v Choose... 45 Flag When quantity produced is one, marginal cost equals to estion 30 When quantity produced is one, total cost equals to 40 25 When quantity produced is two, total cost equals to 90 When quantity produced is two, total variable cost equals to None 70 When quantity produced is two, total fixed cost equals to 50 0