Question

In the short run, a purely competitive seller will shut down if Multiple Choice it cannot produce at an economic profit. there is no point at which marginal revenue and marginal cost are equal. price is less than average fixed cost at all outputs. price is less than average variable cost at all outputs.

Answer 1

D) price is less than the average variable cost at all outputs.

What is a purely competitive seller?

A purely competitive seller is a price taker. A purely competitive seller has no control over the price at which he sells, his average marginal revenue schedule is infinitely elastic.

What Is a Price-Taker?

A company or person who must accept market prices because it lacks the market share to do it on its own is known as a price-taker. In a market with perfect competition, or one in which all businesses sell the same good, there are no barriers to entry or departure, each business has a little market share, and all consumers are fully informed about the market, all economic actors are regarded as price takers. This is valid for sellers and purchasers in the debt and stock markets as well as producers and consumers of goods and services.

Learn more about price takers with the help of the given link:

brainly.com/question/13806356

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