For a purely competitive seller price equals: average revenue

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For a purely competitive seller price equals: average revenue. marginal revenue. total revenue divided by output. all of these. For a purely competitive firm total revenue: is price times quantity sold. increases by a constant absolute amount output expands. graphs as a straight upsloping line from the origin. has all of these characteristics. In the standard model of pure competition, a profit-maximizing entrepreneur will shutdown in the short run if: Marginal cost is greater than average revenue Average cost is greater than average revenue Average fixed cost is greater than average revenue Total revenue is less than total variable costs In a typical graph for a purely competitive firm, the intersection of the total cost and total revenue carves would be: A point of maximum economic profit A point of minimum economic loss A point where MR = MC A break-even point Tue wage rate increases in a purely competitive industry. This change will result in a(n): Decrease in average total cost for a firm in the industry Decrease in average variable cost for a firm in the industry Increase in the marginal cost curve for a firm in the industry Increase in short-run supply curve for a firm in the industry ill the short run a purely competitive firm that seeks to maximize profit will produce: A. where the demand and the ATC curves intersect.