Math Problem Statement
If the Marginal revenue function for output x is given by ππ = [4/(2π₯+3)2 ]β1, find the total revenue function and the demand function.
Solution
Ask a new question for Free
By Image
Drop file here or Click Here to upload
Math Problem Analysis
Mathematical Concepts
Calculus
Revenue Functions
Integration
Formulas
Marginal Revenue: MR(x) = dR(x)/dx
Total Revenue: R(x) = β« MR(x) dx
Demand Function: p(x) = R(x) / x
Theorems
Fundamental Theorem of Calculus
Suitable Grade Level
Grades 11-12
Related Recommendation
Find the Total Revenue and Demand Functions from a Given Marginal Revenue Function
Finding Revenue and Demand Functions from Marginal Revenue
Maximizing Total Revenue Using Calculus for a Given Demand Function
Calculate Increase in Total Revenue: Marginal Revenue Function
Calculate Revenue Function and Marginal Revenue for Price-Demand Relationship