Classical theories of trade assume that firms operate in perfectly competitive markets

The _____ refers to structures and processes in a society that makes and applies policies and rules.

Fill in the blank(s) with the appropriate word(s).

Maxim Computer has 10 percent of a $250 billion market. Maxim is a low-cost leader and realizes a 20% margin on sales, and marketing, and administrative expenses equaling 10% of sales. What is Maxim's gross profit?

A) $250 billion B) $25 billion C) $5 billion D) $2.5 billion E) $500 million