In Its Report to Stockholders, a Certain Manufacturing Company Reported $x _ { 1 }$

In its report to stockholders, a certain manufacturing company reported its total cost and revenue functions using the graphs given below: (a) Using the graph, sketch each of the following as a function of the quantity produced, x.(i) Marginal cost
(ii) Marginal revenue
(iii) Profit
(b) What is the significance of $x _ { 1 }$ ? $x _ { 2 }$ ?
(c) What is the meaning of $C ^ { \prime } ( 0 )$ ?
(d) Describe in words how the marginal cost changes as the quantity produced increases.(e) Explain the economic significance, in terms of marginal cost, of the point where the concavity of the cost function changes.

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(a) (i) (ii) (iii) (b) and . and ...

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