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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Expert Answer

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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.

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Step 2

Now we know that revenue function =demand function *x

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Calculus

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