A company determines that the cost of making units of commodity is C(x) = 480000 + 2.4x - 0.0008x² and the price function is given by p(x) = 4 -0.01x a) For what production level will the cost of production be a maximum? b) What level of production will maximize profits? c) What is the maximum profit? Explain whether the company should produce this commodity or not? (round answers to the nearest whole number)

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A: This question can be solved using the concept of derivative of a function at a point.

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A: Follow the procedure given below.

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A: We can solve the given system of equations.

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A: Above question is solved.