Fill in the columns in the following table and use the values in the table to determine the profit-maximizing level of output.
Definitions:
Quantity Demanded
The total amount of a good or service that consumers are willing to purchase at a given price over a specified period.
Consumers
Individuals or entities that use goods and services produced within an economy, playing a central role in market demand.
Price
Price is the amount of money expected, required, or given in payment for something.
Price Elasticity
Price elasticity quantifies how sensitive the demand or supply of a product is to variations in its price.
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