Math Problem Statement

If the Marginal revenue function for output x is given by 𝑀𝑅 = [4/(2𝑥+3)2 ]−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

Total Revenue TR(x) = ∫MR(x) dx
Demand Function p(x) = TR(x) / x

Theorems

Fundamental Theorem of Calculus

Suitable Grade Level

College Level