Refer to the information provided in Table 13.4 below to answer the question(s) that follow.
Table 13.4Price ($)Quantity20.00118.00216.00314.00412.00510.006 8.007Refer to Table 13.4. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $12 per unit of providing the product, then the monopoly maximizes its profits by charging ________ per unit and selling ________ units of output.
A. $10; 6
B. $16; 3
C. $12; 5
D. $14; 4
Answer: B
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