The cost of producing a TV component is partly a constant and partly varies inversely with the number of components produced per day. If 100 components are produced per day, the cost is$1200.00 per component. If 300 are produced, the cost is reduced to$900.00 per Component. What is the cost of each component if 500 are produced per day?
c = m/x + b
Now, using the data given,
m/100 + b = 1200
m/300 + b = 900
solve to get
m=45000
b=750
so, c(500) = 45000/500 + 750 = 90+750 = ____