Photorespiration is a wasteful process occurring in C3 plants where the enzyme RuBisCo acts as an oxygenase instead of a carboxylase. When RuBisCo binds with $O_{2}$ instead of $CO_{2}$, it reacts with Ribulose-1,5-bisphosphate (RuBP).
The oxygenation reaction of RuBP is represented as: $$RuBP + O_{2} \rightarrow 3\text{-Phosphoglycerate} (3\text{-PGA}) + 2\text{-Phosphoglycolate}$$ Here, 3-PGA is a 3-carbon compound, and 2-Phosphoglycolate is a 2-carbon compound.
Comparing the given reaction equation with the standard biochemical pathway, the product labeled as X is 2-Phosphoglycolate.
Final Answer: 2-Phosphoglycolate
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