Can I please get some help on this question? The attached question is all the information provided. Thank you!

Concept Question 1.1 Economists define a market to be competitive when the firms O A. watch each other's behavior closely. O B. spend large amounts of money on advertising to lure customers away from the competition. O C. are price takers. O D. All of the above.Score: 0 of 1 pt Concept Question 1.2 In a perfectly competitive market, O A. firms can freely enter and exit. O B. firms sell a differentiated product. O C. transaction costs are high. O D. All of the above.Concept Question 1.4 Why do economists study the perfectly competitive model? 0 A. It is an important model to use as a benchmark to compare with other market structures. 0 B. Many markets have similarities to the perfectly competitive model. 0 C. Perfectly competitive markets maximize societal welfare. 0 D. All of the above. Initially, the market price is p = 15, and the competitive firm's average variable cost is 16, while its average cost is 19. Should it shut down? Why? This firm should O A. not shut down because average cost is greater than average variable cost. O B. shut down because average variable cost is greater than the market price. O C. shut down because average cost is greater than the market price. O D. shut down because average fixed cost is less than the market price. O E. not shut down because average fixed cost is less than the market price