K for $124 thousand mis question: 1 point(s) possible Submit qu 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 marginal cost is MC Airplanes se C MC 0 50 1 150 100 2 206 56 246 40 274 28 310 36 350 40 7 394 44 8 469 75 9 569 100 10 694 125 11 844 150 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? airplanes. (Enter your response using an integer) What will be the firm's profit? $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? airplanes (Enter your response using an integer) What will be the firm's profit? $thousand. (Enter your response rounded to two decimal places.)

K for $124 thousand mis question: 1 point(s) possible Submit qu 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 marginal cost is MC Airplanes se C MC 0 50 1 150 100 2 206 56 246 40 274 28 310 36 350 40 7 394 44 8 469 75 9 569 100 10 694 125 11 844 150 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? airplanes. (Enter your response using an integer) What will be the firm's profit? $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? airplanes (Enter your response using an integer) What will be the firm's profit? $thousand. (Enter your response rounded to two decimal places.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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