Suppose That the Total Cost of Producing 1 Unit of a Product

Multiple Choice

Suppose that the total cost of producing 1 unit of a product is given by dollars, 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 $11 per pound and the present hourly rate for labor is $24. How will an increase of $1 per hour in labor costs affect the total cost? Round your answer to the nearest cent. ​

A) The total cost will increase approximately $75.28 if labor costs increase to $25 per hour.
B) The total cost will increase approximately $77.41 if labor costs increase to $25 per hour.
C) The total cost will increase approximately $133.36 if labor costs increase to $25 per hour.
D) The total cost will increase approximately $25.78 if labor costs increase to $25 per hour.
E) The total cost will increase approximately $27.95 if labor costs increase to $25 per hour.