Math Problem Statement

Suppose that the marginal revenue for a product is given by MR = −34 (2x + 1)2

  • 34 where x is the number of units and revenue is in dollars. Find the total revenue, R(x). R(x) =

Solution

The marginal revenue (MR) represents the rate of change of the total revenue function R(x)R(x), meaning MR=dR(x)dxMR = \frac{dR(x)}{dx}. To find the total revenue function R(x)R(x), we integrate the given marginal revenue function with respect to xx.

Given: MR=34(2x+1)2+34MR = -\frac{34}{(2x + 1)^2} + 34

Now, we integrate to find R(x)R(x):

R(x)=(34(2x+1)2+34)dxR(x) = \int \left(-\frac{34}{(2x + 1)^2} + 34\right) dx

Step 1: Split the integral

We can split the integral into two parts:

R(x)=34(2x+1)2dx+34dxR(x) = \int -\frac{34}{(2x + 1)^2} dx + \int 34 dx

Step 2: Solve each integral

First integral:

34(2x+1)2dx\int -\frac{34}{(2x + 1)^2} dx Let u=2x+1u = 2x + 1, hence du=2dxdu = 2dx, or dx=du2dx = \frac{du}{2}.

Substitute into the integral: =341u2du2= -34 \int \frac{1}{u^2} \cdot \frac{du}{2} =342u2du= -\frac{34}{2} \int u^{-2} du =17(1u)= -17 \left(-\frac{1}{u}\right) =172x+1= \frac{17}{2x + 1}

Second integral:

34dx=34x\int 34 dx = 34x

Step 3: Combine the results

Now, combine the two parts: R(x)=172x+1+34x+CR(x) = \frac{17}{2x + 1} + 34x + C where CC is the constant of integration.

Thus, the total revenue function is: R(x)=172x+1+34x+CR(x) = \frac{17}{2x + 1} + 34x + C

Would you like to find the constant CC using an initial condition, or do you have any questions on this?


Here are 5 questions to expand your understanding:

  1. What is the significance of the constant of integration in this problem?
  2. How would you determine the constant CC if given an initial condition, like R(0)R(0)?
  3. How does the shape of the marginal revenue function affect the behavior of R(x)R(x)?
  4. What is the long-term behavior of the total revenue function as xx grows large?
  5. How can we interpret the units of the terms in the total revenue function?

Tip: Always check whether an initial condition is provided to determine the specific constant of integration for practical applications of the function.

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Math Problem Analysis

Mathematical Concepts

Calculus
Integration
Marginal Revenue
Total Revenue

Formulas

MR = dR(x) / dx
R(x) = ∫ (MR) dx
∫ -34 / (2x + 1)^2 dx + ∫ 34 dx

Theorems

Fundamental Theorem of Calculus

Suitable Grade Level

Grades 11-12 or College Level