A firm in a perfectly competitive industry is currently producing 10 units of output. At that output level, average total cost is $10/unit, marginal cost is $8/unit, and average variable cost is $5/unit. Suppose that the current output level maximizes the profit of the firm. From this information, we can conclude that the market price is, and economic profits of this firm are.

1. $10/unit ; zero
2. $8/unit ; -$20
3. $8/unit ; $20
4. $5/unit ; $30