Chapter 14.3, Problem 6E

(a)

To determine

To calculate: The increase in total cost for each increase of $1 per pound of the raw materials. The total cost of producing 1 unit of a product is given by $C\left(x,y\right)=30+0.5x^2+30y-xy$ dollars, where x is the hourly labor rate and y is the cost per pound of raw materials. The currently hour rate is $25, and the raw materials cost $6 per pound.

(b)

To determine

To calculate: The increase in total cost for each increase of $1 hourly labor rate. The total cost of producing 1 unit of a product is given by $C\left(x,y\right)=30+0.5x^2+30y-xy$ dollars, where x is the hourly labor rate and y is the cost per pound of raw materials. The currently hour rate is $25, and the raw materials cost $6 per pound. Interpret the answer.