Problem 1. The fixed cost of developing Boeing's new aircraft, the 797, is $6 billion. The average variable cost per aircraft is $100,000,000 (and it does not depend on the production volume). The current sales price is $140,000,000. a. What is the projected breakeven volume (i.e., the quantity at which total profits equal zero)? Show your work. b. Suppose the demand for the aircraft is given by the equation: = 250 1,000,000 How many units will Boeing sell at a price of $140,000,000? Show your work. c. Is the Boeing 797 program profitable under those conditions? d. Calculate the marginal revenue at the price of $140,000,000. e. What can Boeing do with price to maximize profits on the 797? Be specific and show your work. When charging the profit-maximizing price, does Boeing make profits after covering its fixed cost? f. Calculate the demand elasticity at the price you have suggested in part e, above. Show your work.