The poverty line is updated each year for rising prices but not for increasing standards of living

Using the above figure, of the prices below, which price enables a perfectly competitive firm to earn the maximum economic profit?

A) $4 per unit. B) $10 per unit. C) $12 per unit. D) $16 per unit.

A monopolist charges a price that is ________ and produces ________ than a perfect competitor

A) lower; less B) higher; less C) higher; more D) lower; more