A company manufacturers and sells x electric drills per month. The monthly cost and price-demand equations are
C(x)=63000 + 40x
p=220 - x/30
0<=x<=5000
Find the production level that results in the maximum revenue.
Production level=?
Find the price that the company should charge for each drill in order to maximize profit.
Price=?
Suppose that a 5 dollar per drill tax is imposed. Determine the number of drills that should be produced and sold in order to maximize profit under these new circumstances.
Number of drills=?