Suppose that ABC Industries, a perfectly competitive firm, currently produces 500 units of imitation ham spread for a total cost of $1,500. The marginal cost of the 500 unit is $15, and the marginal revenue of the 500th unit is $20. To maximize profits, ABC Industries should: O continue to produce 500 units. O produce less than 500 units. produce more than 500 units. O stop producing at 500 units.The table given below shows the total revenue and total cost of producing a commodity. Table 9.1 Total Output Total Revenue Total Cost $0 $1,000 $1,700 $2,000 $3,300 $2,800 $4,800 $3,500 $6,200 $4,000 $7,500 $4,500 $8,700 $5,200 $9,800 $6,000 $10,800 $7,000 $11,700 $9,000 In Table 9.1, if the firm produces five units of output, it makes a profit of O $3,000 $0 O $800 $1,200 $1,000If a firm's marginal revenue is greater than its marginal cost, then: O each added unit of output will reduce profits. O the firm is maximizing profit. O an increase in output will add more to revenue than to cost. C an increase in output will add more to cost than to revenue. O a fall in output will add more to revenue than to cost