Assignment: Chapter 8 Homework Print 2. Suppose a large corporation produces airplanes in a perfectly competitive industry. The data in the following table give information about the cost of producing a particular type of airplane (in thousands), where quantity is q, total cost is C, and Paper size Letter marginal cost is MC. Airplanes sell for $192 thousand. q C MC 0 100 1 300 200 2 412 112 3 4921 80 4 548 56 5 620 72 6 700 80 7 788 88 8 928 140 9 1113 185 10 1343 230 1618 275 Suppose this firm has the capacity to produce up to 11 airplanes of this particular type. If the company manager's goal is to maximize revenue, how many airplanes will the firm produce? integer.) What will be the firm's profit? S thousand. (Enter your response rounded to two decimal places.) Suppose instead that the manager's goal is to maximize profit. If so, then how many airplanes will the firm produce? What will be the firm's profit? $ thousand. (Enter your response rounded to two decimal places.) airplanes. (Enter your response using an integer.) airplanes. (Enter your response using an

Assignment: Chapter 8 Homework Print 2. Suppose a large corporation produces airplanes in a perfectly competitive industry. The data in the following table give information about the cost of producing a particular type of airplane (in thousands), where quantity is q, total cost is C, and Paper size Letter marginal cost is MC. Airplanes sell for $192 thousand. q C MC 0 100 1 300 200 2 412 112 3 4921 80 4 548 56 5 620 72 6 700 80 7 788 88 8 928 140 9 1113 185 10 1343 230 1618 275 Suppose this firm has the capacity to produce up to 11 airplanes of this particular type. If the company manager's goal is to maximize revenue, how many airplanes will the firm produce? integer.) What will be the firm's profit? S thousand. (Enter your response rounded to two decimal places.) Suppose instead that the manager's goal is to maximize profit. If so, then how many airplanes will the firm produce? What will be the firm's profit? $ thousand. (Enter your response rounded to two decimal places.) airplanes. (Enter your response using an integer.) airplanes. (Enter your response using an

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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