At what rate will the total cost increase for labor costs

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Reference no: EM131801520

Question: The total cost of producing 1 unit of a product is

C(x, y) = 30 + 2x + 4y + (xy/50) dollars

where x is the cost per pound of raw materials and y is the cost per hour of labor.

(a) If labor costs are held constant, at what rate will the total cost increase for each increase of $1 per pound in material cost?

(b) If material costs are held constant, at what rate will the total cost increase for each $1 per hour increase in labor costs?

Reference no: EM131801520

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