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Okay, I did some work on this and I think I can show that a regular polygon does not always give the greatest Area/Circumference ratio. By the way, the fact that there is no constraint on the material in any way, for any given regular polygon with a corresponding A/C ratio you could choose an irregular polygon of greater size that has a greater ratio. So, it's clear that the problem is not properly constrained, and as it is stated there is no maximum.
That is indeed a problem. The best way to rephrase the question, would be: