Please give me correct answer with full explanation otherwise i give downvoteNote:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. In the standard model of pure competition, a profit - maximizing entrepreneur will shut down in the short run if: Question 10Answer a.If marginal cost is greater than average revenue. b. Total revenue is less than total variable costs. c. Average cost is greater thanaverage revenue. d. Average fixed cost is greater than average revenue.

Pure competition(PC) is characterized by a large number of sellers and purchasers. No single entity…

Answered: In the standard model of pure…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please give me correct answer with full explanation otherwise i give downvote

Note:-

Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.

Answer completely and accurate answer.

Rest assured, you will receive an upvote if the answer is accurate.

In the standard model of pure competition, a profit - maximizing entrepreneur will shut down in the short run if: Question 10Answer a.
If marginal cost is greater than average revenue. b. Total revenue is less than total variable costs. c. Average cost is greater than
average revenue. d. Average fixed cost is greater than average revenue.

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