Homework Answers
| Q | C | MC | TR | MR | PROFIT |
| 0 | 200000 | 0 | -200000 | ||
| 1 | 300000 | 100000 | 96000 | 96000 | -204000 |
| 2 | 356000 | 56000 | 192000 | 96000 | -164000 |
| 3 | 396000 | 40000 | 288000 | 96000 | -108000 |
| 4 | 424000 | 28000 | 384000 | 96000 | -40000 |
| 5 | 460000 | 36000 | 480000 | 96000 | 20000 |
| 6 | 500000 | 40000 | 576000 | 96000 | 76000 |
| 7 | 544000 | 44000 | 672000 | 96000 | 128000 |
| 8 | 619000 | 75000 | 768000 | 96000 | 149000 |
| 9 | 719000 | 100000 | 864000 | 96000 | 145000 |
| 10 | 844000 | 125000 | 960000 | 96000 | 116000 |
| 11 | 994000 | 150000 | 1056000 | 96000 | 62000 |
A) Maximizing revenue, the firm will produce 11 airplanes
B) Profit = 62 thousand
C) Setting MR=MC, the firm will produce 8 airplanes
D) Profit = 149 thousand
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2. Suppose a large corporation produces airplanes in a perfectly competitive industry. The data in the...
Suppose a large corporation produces airplanes in a perfectly competitiedustry. The data in the following table...
Suppose a large corporation produces airplanes in a perfectly competitiedustry. The data in the following table give information about the cost of producing a particular type of airplane (in thousands), where quantity is a total cost is C, and margines is MC, Airplanes sel for $176 thousand. CNC 888&SN88385 Suppose this firm has the capacity to produce up to 11 airplanes of this particular type. If the company manager's goal airplanes. Enter your response using an integer) maximize revenue, how...
Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q)...
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Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q)...
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Please help me with the last part of the question. I need steps. Thanks a lot....
Please help me with the last part of the question. I need steps.
Thanks a lot.
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Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost...
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Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q) = 3 + 2q. Assume that the market price (P) of the firm's product is $15. What level of output (q) will the firm produce? The firm will produce units of output. (Enter your response rounded to two decimal places.) What is the firm's producer surplus? Producer surplus (PS) is $ . (Enter your response rounded to two decimal places.) Suppose that the average...
Suppose that a competitive firm's marginal cost of producing output q (MC) is given by MC(q) = 6 +29. Assume that the market price (P) of the firm's product is $18. What level of output (q) will the firm produce? The firm will produce 6.00 units of output. (Enter your response rounded to two decimal places.) What is the firm's producer surplus? Producer surplus (PS) is $ 36.00. (Enter your response rounded to two decimal places.) Suppose that the average...
Suppose a firm has the ability to produce soap, toothpaste, or both. If the firm produces qs units of soap and no toothpaste, then the total cost of production will be $21 thousand. If instead the firm produces y units of toothpaste and no soap, then the total cost of production will be $13 thousand. However, if the firm produces both 95 units of soap and qr units of toothpaste, then the firm's total cost of production will be 591...
Please help me with the last part of the question. I need steps.
Thanks a lot.
Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of production is given by C = 100 + 2q², where q is the level of output and C is total cost. (The marginal cost of production, MC(q), is 4q; the fixed cost, FC, is $100). If the price of a watch is $80, how many watches should...
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