Math Problem Statement

If the Marginal revenue function for output x is given by 𝑀𝑅 = [4/(2π‘₯+3)2 ]βˆ’1, find the total revenue function and the demand function.

Solution

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Math Problem Analysis

Mathematical Concepts

Calculus
Revenue Functions
Integration

Formulas

Marginal Revenue: MR(x) = dR(x)/dx
Total Revenue: R(x) = ∫ MR(x) dx
Demand Function: p(x) = R(x) / x

Theorems

Fundamental Theorem of Calculus

Suitable Grade Level

Grades 11-12