Use the Labor Demand Data on the Left and the Labor

Use the labor demand data on the left and the labor supply data on the right in answering the following question: $\begin{array}{c}\underline{\text { Labor Demand Data }}\quad\quad\quad\quad\quad\quad\quad\quad\underline{\text { Labor Supply Data }}\\\begin{array}{c}\\\underline{\text {Employment}}\\0\\1\\2\\3\\4\\5\\6\end{array}\begin{array}{c}\text {Marginal}\\\underline{\text {Product}}\\0\\14\\12\\9\\7\\4\\2\end{array}\begin{array}{c}\text { Product }\\\underline{\text { Price } }\\\$ 3 \\3 \\3 \\3 \\3 \\3 \\3 \end{array}\begin{array}{c}\\\underline{\text {Employment}}\\0\\1\\2\\3\\4\\5\\6 \end{array}\begin{array}{c}\text { Wage}\\\underline{\text { Rate }} \\ \$ 11 \\11 \\11 \\11 \\11 \\11 \\11\end{array}\end{array}$
On the basis of the given information,we:

A) can say that the labor supply curve facing the firm is nonexistent.
B) cannot say whether the firm's product market is purely or imperfectly competitive.
C) can say that the firm is selling its product in a purely competitive market.
D) can say that the firm is selling its product in an imperfectly competitive market.

Correct Answer:

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