The Table Shows a Total-Product Schedule for a Resource

Multiple Choice

The table shows a total-product schedule for a resource. Assume that the quantities of other resources the firm employs remain constant. If the firm can produce 24 units at a price of $1.00, 42 units at a price of $0.80, and 54 units at a price of $0.60, then the firm is

A) selling in a purely competitive market.
B) selling in an imperfectly competitive market.
C) minimizing its costs at a product price of $1.00.
D) maximizing profits at a product price of $0.60.