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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
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 $92 thousand. q C MC 0 50 - 1 150 100 2 206 56 3 246 40 4 274 28 5 310 36 6 350 40 7 394 44 8 474 80 9 579 105 10 709 130 11 864 155 Suppose this rm 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 rm produce? D airplanes. (Enter your response using an integer.) What will be the firm's prot? $|:| thousand. (Enter your response rounded to two decimal places.) Suppose instead that the manager's goal is to maximize prot. If so, then how many airplanes will the firm produce? airplanes. (Enter your response using an integer.) What will be the firm's prot? $|:| thousand. (Enter your response rounded to two decimal places.)
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