Please answer fast I'll rate you Suppose a large corporation produces airplanes in a perfectly competitive industry. The data in the following table giveinformation 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.q01234567891011C100300412492548620700788928111313431618MC2001128056728088140185230275Suppose this firm has the capacity to produce up to 11 airplanes of this particular type. If the company manager's goal isto maximize revenue, how many airplanes will the firm produce?airplanes. (Enter your response using an integer.)

Firms in this perfectly competitive industry do not have power to influence the market price and…

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.)

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter5: Investment Decisions: Look Ahead And Reason Back

Section: Chapter Questions

Problem 5.6IP

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