(Answered)-What is the economic theory justification as to why a business - (2025 Updated Original AI-Free Solution

Question

1. What is the economic theory justification as to why a business owner would keep their business open while losing money, rather than shut down?? Why?? (explain in two sentences maximum)

1. ?According to the theory, why won?t an individual firm in a purely competitive market lower its price to increase sales volume?

(One sentence only)