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

Answer:

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

Step-by-step explanation:

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

$m=\frac{y_2-y_1}{x_2-x_1}$

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

$\begin{gathered} m=\frac{61100-54460}{700-620} \\ m=\frac{}{}83 \end{gathered}$

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