The total cost of producing 1 unit of a product is given by

where x represents the cost per pound of raw materials and y represents the hourly rate for labor. The present cost for raw materials is $10 per pound and the present hourly rate for labor is $24. How will an increase of
(a) $1 per pound for raw materials affect the total cost?
(b) $1 per hour in labor costs affect the total cost?

Transcribed Image Text:

x? C(x, y) = 20x + 70y + х ху dollars 1000 100