Question

Asked Apr 27, 2019

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11.1_12 Can you please help me with a step by step guide. Thank you very much!

Find the revenue and demand functions for the given marginal revenue. (Use the fact that *R* = 0 when *x* = 0.)

dR/dx = 370-8x

revenue function R=?

demand fucntion p=?

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Step 1

We know that marginal revenue function is derivative of revenue function , so revenue function can be obtained by integrating marginal revnue function as shown on board.

Step 2

Now we know that revenue function =demand function *x

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