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From these videos, we will start application of integrals in economics. You will need a prior knowledge of differential and integral calculus, in order to understand this series of videos.

The following applications are discussed here

• Given any MR function, how would you derive TR function. Integration of MR function is done
• Given any MR function, how would you find optimal value of x which maximizes TR. This is a simple application of maxima and minima
• What is consumer surplus? Given any demand function, how would you find consumer surplus?

Deriving TR function from MR function and demand function

Maximizing TR function from a given MR function

Consumer Surplus and its example