A company manufacturers and sells x electric drills per month. The monthly cost and price-demand equations are C) = 73000 + 60x, PC) = 210 - 30' OSIS S000. (A) Find the production level that results in the maximum revenue. Production Level = (B) Find the production level that results in the maximum profit. Number of drills = (C) Find the price that the company should charge for each drill in order to maximize profit. Price =

A company manufacturers and sells x electric drills per month. The monthly cost and price-demand equations are C) = 73000 + 60x, PC) = 210 - 30' OSIS S000. (A) Find the production level that results in the maximum revenue. Production Level = (B) Find the production level that results in the maximum profit. Number of drills = (C) Find the price that the company should charge for each drill in order to maximize profit. Price =

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter9: Applications Of Cost Theory

Section: Chapter Questions

Problem 1.8CE

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