In 1997, researchers at Texas A&M University estimated the operating costs of cotton gin plans of various sizes. A quadratic model of cost (in thousands of dollars) for the largest plants was found to be very similar to: C(q) = 0.026q² + 23.7q+333 where q is the annual quanity of bales (in thousands) produced by the plant. Revenue was estimated at $62 per bale of cotton. Find the following (but be cautious and play close attention to the units): A) The Marginal Cost function: MC(q) = B) The Marginal Revenue function: MR(q) = C) The Marginal Profit function: MP(q) = D) The Marginal Profits for q = MP(368) = 368 thousand bales: (Round to the nearest penny if necessary; see Part E for units.) E) Which of the following represent the proper measurement units for the answer to Part D? thousands of units per dollar O dollars per unit O units per dollar O units O dollars O thousands of dollars per unit

In 1997, researchers at Texas A&M University estimated the operating costs of cotton gin plans of various sizes. A quadratic model of cost (in thousands of dollars) for the largest plants was found to be very similar to: C(q) = 0.026q² + 23.7q+333 where q is the annual quanity of bales (in thousands) produced by the plant. Revenue was estimated at $62 per bale of cotton. Find the following (but be cautious and play close attention to the units): A) The Marginal Cost function: MC(q) = B) The Marginal Revenue function: MR(q) = C) The Marginal Profit function: MP(q) = D) The Marginal Profits for q = MP(368) = 368 thousand bales: (Round to the nearest penny if necessary; see Part E for units.) E) Which of the following represent the proper measurement units for the answer to Part D? thousands of units per dollar O dollars per unit O units per dollar O units O dollars O thousands of dollars per unit

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter4: Polynomial And Rational Functions

Section4.1: Quadratic Functions

Problem 91E

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