Question

A company discovers that to produce x=700 new electronic parts, it will cost y=$61100. To produce 620 new electronic parts, it will cost $54460

Answer 1

The cost increases at a rate of $83 per item.

Explanation:

Given two points, use the following to determine the equation:

`m=(y_2-y_1)/(x_2-x_1)`

Given the points (700,61100) and (620, 54460), substitute and compute for the slope:

`\begin{gathered} m=(61100-54460)/(700-620) \\ m=\frac{}{}83 \end{gathered}`

The cost increases at a rate of $83 per item.