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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

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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) = 0.025q2 + 20.1q + 400 where q is the annual quanity of bales (in thousands) produced by the plant. Revenue was estimated at $70 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 = 498 thousand units: MP(498) = (see Part E for units) Which of the following represent the proper units for the answer to Part D? thousands of dollars per unit O units per dollar dollars O units dollars per unit thousands of units per dollar

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