The aforementioned data allows us to conclude that the firm is providing its goods in a market that is only competitive. As a result, choice (C) is the accurate approach.
When competition is at its highest level imaginable, a market is said to be competitive. It is also regarded as a perfectly competitive market and has many consumers, uniform products, unrestricted entry, and departure, etc. The market circumstances are perfectly competitive, and no one company has a monopoly.
Businesses will continue to make reasonable profits under the strain of the marketplace while keeping cheap prices under this arrangement. Only in principle does the perfect market structure exist, with all of its desirable qualities.
Hence, option (C) is accurate.
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