THE QUESTIONS For question 1, C and E are WRONG!! For question 2, A and D are WRONG!! For question 3, A and C are WRONG!!PLEASE HELP ANSWER THE QUESTIONS For question 1, C and E are WRONG!! For question 2, A and D are WRONG!! For question 3, A and C are WRONG!! 1. Which of the following could explain why a firm would decrease production of a good despite making significant accounting profit? A) The marginal cost equals the marginal benefit. B) The opportunity cost of an alternative foregone is greater. C) The economic profit is more than the accounting profit. D) The economic profit is less than the accounting profit. E)The fixed costs are unacceptably high. 2. Which of the following incentives is most important to a business according to the theory of the firm? A) Low average total cost B) Low marginal cost C) High total revenue D) High accounting profit E) High economic profit 3. A popular bakery is able to produce 288 more muffins when they hire another baker. When they hire another after that, the bakery produces only 144 more. This is an example of A) the law of diminishing marginal utility B) the principle of scarcity C)utility maximization D) the law of diminishing marginal returns E) inefficiency