Question

The cost function and revenue function for producing and selling x units of a certain product are given by C(x) and R(x) respectively, where both C and R are in dollars. Suppose that C(x) and R(x) are both differentiable functions of x, and consider the profit function P(x) = R(x) - C(x), which gives you profit P in dollars for producing and selling x units. (Assume that each unit you make gets sold). Assuming that the maximum profit is attained at x = 124 (and this is not at an endpoint of the effective domain), what must be the relationship between marginal cost and marginal revenue at that

Answer 1

point?