Suppose a large corporation produces airplanes in a perfectly competit 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 sell for $216 thousand. 0 1 2 3 4 5 6 7 8 9 10 11 с 100 300 412 492 548 620 700 788 928 1113 1343 1618 MC 200 112 80 56 72 80 88 140 185 230 275 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? airplanes. (Enter your response using an integer.)
Suppose a large corporation produces airplanes in a perfectly competit 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 sell for $216 thousand. 0 1 2 3 4 5 6 7 8 9 10 11 с 100 300 412 492 548 620 700 788 928 1113 1343 1618 MC 200 112 80 56 72 80 88 140 185 230 275 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? airplanes. (Enter your response using an integer.)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text: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 sell for $216 thousand.
q
0
1
2
3
4
5
6
7
8
9
10
11
C
100
300
412
492
548
620
700
788
928
1113
1343
1618
MC
200
112
80
56
72
80
88
140
185
230
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?
airplanes. (Enter your response using an integer.)
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