Question

A company discovers that to produce x=740 new electronic parts, it will cost y=$59420. To produce 950 new electronic parts, it will cost $73700.

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

Answer 1

Costs are decreasing at a rate of $66 per item.
Costs are increasing at a rate of $68 per item.
Costs are decreasing at a rate of $70 per item.
Costs are decreasing at a rate of $68 per item.
Costs are increasing at a rate of $70 per item.
Costs are increasing at a rate of $66 per item.

Answer 2

hint: find the slope of the line through the points (740,59420) and (950,73700)