Demand for a firm has been reliably measured as P = 100 − 5Q where Q is output and P is price in dollars. Total cost is in the table below. Complete the table and indicate the level of output and price which a profit-maximizing firm would select and indicate the same for a sales-maximizing firm.
Definitions:
Imports
Goods and services bought by a country from foreign markets.
Trade Surplus
A situation where a country's exports exceed its imports for a given period, leading to a positive balance of trade.
Exports
Items or services dispatched from one country to another for the intent of trade or sale.
Imports
Commodities or offerings that are carried from abroad into a nation with the intent to sell them.
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