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 $176 thousand. q 0 1 2 3 4 5 6 7 8 9 10 11 с 200 400 512 592 648 720 800 888 1038 1233 1473 1758 MC 200 112 80 56 72 80 88 150 195 240 285 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 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 $176 thousand. q 0 1 2 3 4 5 6 7 8 9 10 11 с 200 400 512 592 648 720 800 888 1038 1233 1473 1758 MC 200 112 80 56 72 80 88 150 195 240 285 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.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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