The above figure shows the market for steel ingots. At the social optimum, the private producer surplus is

Low-income countries are largely responsible for excess carbon dioxide emissions globally

Indicate whether the statement is true or false

A firm faces the labor productivity and cost schedule in the table above. The wage rate schedule suggests that the firm:

A. Is purely competitive in the labor market

B. Is purely competitive in the product market

C. Has some monopoly power in the product market

D. Is not purely competitive in the labor market