(a) Find the indefinite integral for the following marginal revenue functions with respect to output (Q): (1) MR=f(Q) = Q³-5Q² + √ 00 MR=f(Q) = (0+2) -Hint: You use the resultdQ=log, (Q-1) + C (b) Use the substitution of variable method fully to evaluate [*Q(Q² + 1)³dQ

(a) Find the indefinite integral for the following marginal revenue functions with respect to output (Q): (1) MR=f(Q) = Q³-5Q² + √ 00 MR=f(Q) = (0+2) -Hint: You use the resultdQ=log, (Q-1) + C (b) Use the substitution of variable method fully to evaluate [*Q(Q² + 1)³dQ

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.

Question

(c) Calculate the area between the following two functions:
TR(Q) = 2Q²
C(Q) = Q²-2Q+8
Where TR = total revenue of the business
C = total cost of the business
Q = units of output

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