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Quantitative Analysis of LP Formulation

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?

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Solution Summary

This solution contains step-by-step calculations to determine the cost of the solution. A graph with the isocost line is also provided.

$2.19