Question

A company discovers that to produce x = 940 new electronic parts, it will cost y = $55040. To produce 1000 new electronic parts, it will cost $58100.


Compute the slope of the costs and choose the most accurate statement from the following:

A.) Costs are increasing at a rate of $57 per item.

B.) Costs are decreasing at a rate of $50 per item.

C.) Costs are decreasing at a rate of $57 per item

D.) Costs are increasing at a rate of $51 per item.

E.) Costs are decreasing at a rate of $51 per item.

F.) Costs are increasing at a rate of $50 per item.

Answer 1

The correct option based on the slope determination is:

D.) Costs are increasing at a rate of $51 per item

What is the slope cost?

The slope of a line is the degree of change in y coordinates(costs) with respect to change in x coordinates(volume of output).

The formula for slope of the costs is as given below:

slope=(new costs-old costs)/(new quantity-old quantity)

new costs=$58,100

old costs=$55,040

new quantity=1000

old quantity=940

slope=($58,100-$55,040)/(1000-940)

slope=$51.00

This implies that for every additional new electronic part, the cost goes up by $51.00

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