A company manufacturers and sells x electric drills per month. The monthly cost and revenue equations are C(x) = 64000 + 70x, R(x) = 200x - - x² 30' (A) Find the production level that results in the maximum revenue. Production Level = Price = 0 ≤ x ≤ 5000. (B) Determine the number of drills that should be produced and sold in order to maximize profit. Number of drills = (C) 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.
A company manufacturers and sells x electric drills per month. The monthly cost and revenue equations are C(x) = 64000 + 70x, R(x) = 200x - - x² 30' (A) Find the production level that results in the maximum revenue. Production Level = Price = 0 ≤ x ≤ 5000. (B) Determine the number of drills that should be produced and sold in order to maximize profit. Number of drills = (C) 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.
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Please help me solve this calculus optimization problem!

Transcribed Image Text:A company manufacturers and sells x electric drills per month. The monthly cost
and revenue equations are
C(x) = 64000 + 70x, R(x) = 200x -
-
x²
30'
(A) Find the production level that results in the maximum revenue.
Production Level =
Price =
0 ≤ x ≤ 5000.
(B) Determine the number of drills that should be produced and sold in order to
maximize profit.
Number of drills =
(C) 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.
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