7-23, Consider this LP formulation
Minimize cost = $X + 2Y
Subject to: X + 3Y >90, 8X + 2Y >160, 3X + 2Y >120, Y<70, X,Y >0
Graphically illustrate the feasible region and apply the isocost line procedure to indicate which corner point produces the optimal solution. What is the cost of this solution?
This solution contains step-by-step calculations to determine the cost of the solution. A graph with the isocost line is also provided.