The Widget Company produces three types of widgets: Regular, Deluxe, and Superior. All widgets are produced in the same factory, which has 1,200 square feet of production space available. The following information is available: Product Sales price per unit Variable cost per unit Production space per unit (in square feet) Market demand in units Regular $50 $25 2 400 Deluxe 100 60 5 600 Superior 250 150 10 250 To maximize profit, the number of widgets that the firm should sell is closest to:

Brian has just finished college. he wants to set up a small business to make and sell fireworks. he registers his company and acquires a license from the government. he finds that most of his competitors are selling fireworks at an extremely low price. he would like to make more money, so he decides to innovate and develop better fireworks. he sells his fireworks at a higher price, and they are a huge hit with the customers. after a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. he even starts exporting fireworks overseas. which type of economy does this scenario describe?