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In 1997, researchers at Texas A&M University estimated the operating costs of cotton gin plants of various sizes. A quadratic model of cost (in thousands of dollars) for the largest plants was found to be very similar to: C(g) = 0.026g²+26.7q+381 where g is the annual quantity of bales (in thousands) produced by the plant. Revenue was estimated at $ 64 per bale of cotton. Find the following (but be cautious and play close attention to the units): A) The Marginal Cost function: C'(a) = -- B) The Marginal Revenue function: R'(q) = C) The Marginal Profit function: P'(q) = D) The Marginal Profits for q F P'(358) = 358 thousand units: (see Part E for units) Which of the following represent the proper units for the answer to Part D? O units O thousands of units per dollar O units per dollar Odollars O thousands of dollars per unit O dollars per unit

In 1997, researchers at Texas A&M University estimated the operating costs of cotton gin plants of various sizes. A quadratic model of cost (in thousands of dollars) for the largest plants was found to be very similar to: C(g) = 0.026g²+26.7q+381 where g is the annual quantity of bales (in thousands) produced by the plant. Revenue was estimated at $ 64 per bale of cotton. Find the following (but be cautious and play close attention to the units): A) The Marginal Cost function: C'(a) = -- B) The Marginal Revenue function: R'(q) = C) The Marginal Profit function: P'(q) = D) The Marginal Profits for q F P'(358) = 358 thousand units: (see Part E for units) Which of the following represent the proper units for the answer to Part D? O units O thousands of units per dollar O units per dollar Odollars O thousands of dollars per unit O dollars per unit

Algebra for College Students
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter12: Algebra Of Matrices
Section12.CR: Review Problem Set
Problem 37CR
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2.(16) where g is the annual quantity of bales (in thousands) produced by the plant. Revenue was estimated at 5 64 per bale of cotton. Find the following (but be cautious and play close attention to the units):
In 1997, researchers at Texas A&M University estimated the operating costs of cotton gin plants of various sizes. A quadratic model of cost (in thousands of dollars) for the largest plants was found to be very similar to: C(g) = 0.026g²+26.7q+381 where g is the annual quantity of bales (in thousands) produced by the plant. Revenue was estimated at $ 64 per bale of cotton. Find the following (but be cautious and play close attention to the units): A) The Marginal Cost function: C'(g) B) The Marginal Revenue function: R'(q) = C) The Marginal Profit function: P'(q) D) The Marginal Profits for g h P'(358) 358 thousand units: (see Part E for units) Which of the following represent the proper units for the answer to Part D? O units O thousands of units per dollar O units per dollar O dollars O thousands of dollars per unit O dollars per unit
Transcribed Image Text:In 1997, researchers at Texas A&M University estimated the operating costs of cotton gin plants of various sizes. A quadratic model of cost (in thousands of dollars) for the largest plants was found to be very similar to: C(g) = 0.026g²+26.7q+381 where g is the annual quantity of bales (in thousands) produced by the plant. Revenue was estimated at $ 64 per bale of cotton. Find the following (but be cautious and play close attention to the units): A) The Marginal Cost function: C'(g) B) The Marginal Revenue function: R'(q) = C) The Marginal Profit function: P'(q) D) The Marginal Profits for g h P'(358) 358 thousand units: (see Part E for units) Which of the following represent the proper units for the answer to Part D? O units O thousands of units per dollar O units per dollar O dollars O thousands of dollars per unit O dollars per unit
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