Answer the question on the basis of the following cost data for a purely competitive seller: $$\begin{array}{ccc}\text{ Output }& & \text{ Total Cost }\\ 0& & \$50\\ 1& & 90\\ 2& & 120\\ 3& & 140\\ 4& & 170\\ 5& & 210\\ 6& & 260\\ 7& & 330\end{array}$$ Refer to the data.If product price is $25,the firm will:

A) shut down and incur a $90 loss.
B) shut down and incur a $50 loss.
C) produce 3 units and incur a $65 loss.
D) produce 4 units and realize a $10 economic profit.

Economic Profit

The divergence between aggregate income and total outlays, inclusive of both tangible and intangible expenses.

Purely Competitive Seller

A seller operating in a market where there are many buyers and sellers and the products are virtually identical, leading to no individual control over prices.

Total Cost

The complete sum of all costs associated with the production or acquisition of goods and services, including fixed and variable costs.