You are given the function p(q) at which q units of a particular commodity can be sold and the total cost c(q) of producing the q units: In each case
Revenue Function R(q), the profit function P(q), the marginal revenue R'(q), and the marginal cost C'(q). Sketch the graphs of p(q), R'(q), and C'(q) on the same coordinates axes and determine the level of production q where P(q) is maximized.
Average Cost A(q)=C(q)/q and sketch the graphs pf A(q), and the marginal cost C'(q) on the same axes. Determine Level of Production q at which A(q) is minimized.
I have the answers because its an odd question and the answers are in the back of the book..but I would like to know how they got the answers....If you can help sure appreciate it...have a bunch of these on my HW for next weak.