Manufacturing, employment, monetary, and consumer expectations statistics are examples of lagging indicators

In the above figure, if the price is $12 per unit, how many units will a profit maximizing perfectly competitive firm produce?

A) 0 B) 20 C) 30 D) 35

Refer to the graph below, showing the long-run supply and demand curves in a purely competitive market. We know that in this market, the marginal:

A. Cost equals marginal benefit at P1Q1
B. Benefit exceeds marginal cost at the output level of Q2
C. Cost exceeds marginal benefit at the output level of Q2
D. Cost equals marginal benefit at all points on the supply curve