An analyst gathers the following financial data (in $millions) for a firm operating in a perfectly competitive market: Total variable costs: 700 Total fixed costs: 400 If the firm's total revenue is$ 1,000 million, the firm should:

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A

Continue operations in both the short run and long run.

B

Continue operations in the short run but exit the market in the long run.

C

Cease production in the short run and exit the market in the long run.

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