(b) How will an increase of $1 in the hourly labor rate affect the total cost? The total cost will increase by $14.5 x.

Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter4: Eigenvalues And Eigenvectors
Section4.6: Applications And The Perron-frobenius Theorem
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Need help on part B.

The total cost of producing 1 unit of a product is given by
C(x, y) = 80+ 0.3x² + 50y - xy
dollars
where x is the hourly labor rate and y is the cost per pound of raw materials. The current hourly rate is $27, and the
raw materials cost $2 per pound.
(a) How will an increase of $1 per pound for the raw materials affect the total cost?
The total cost will increase
by $23
(b) How will an increase of $1 in the hourly labor rate affect the total cost?
The total cost will increase
by $14.5
Transcribed Image Text:The total cost of producing 1 unit of a product is given by C(x, y) = 80+ 0.3x² + 50y - xy dollars where x is the hourly labor rate and y is the cost per pound of raw materials. The current hourly rate is $27, and the raw materials cost $2 per pound. (a) How will an increase of $1 per pound for the raw materials affect the total cost? The total cost will increase by $23 (b) How will an increase of $1 in the hourly labor rate affect the total cost? The total cost will increase by $14.5
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