Answer the question on the basis of the data contained in the following table.Assume that the firm is hiring labor in a purely competitive market. The given data reveal that:
A) the firm is selling its product in a purely competitive market.
B) the firm is selling its product in an imperfectly competitive market.
C) there is no level of output at which this firm can operate at a profit.
D) the law of diminishing returns is not applicable to this firm.
Correct Answer:
Verified
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