What is the correct answer and why are the other ones wrong?

10. In the graph below, TC is total cost and TR is total revenue. TC TR TCSTR TRYTO TC > TR ing is true Hal G Q1 Q2 Q Qs OUTPUT At which level of output is profit maximized? A. Q1 TR= TC C. Q3 * D. )Q4 E. Q5 11. At a firm's current rate of output, the marginal cost is $65, the average variable cost is $35, the average fixed cost is $30, and the product price is $65. Which of the following statements is true for the firm? manbou 0 65 = 65.0 (A. Economic profits are zero because marginal revenue equals marginal cost. MR B. Economic profits are negative because total revenue is less than total cost. C. Economic profits are positive because total revenue is greater than total cost. D. Economic profits are negative because price is greater than average variable cost. E. Economic profits are zero because price equals average total cost. -2 4