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Business decision analysis Gamma Galaxy manufactures two models of steppers used for aerobic exercises. Manufacturing each luxury model requires 7 lb of plastic and 6

Business decision analysis

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Gamma Galaxy manufactures two models of steppers used for aerobic exercises. Manufacturing each luxury model requires 7 lb of plastic and 6 ng min of labor. Manufacturing each standard model ty requires 10 lb of plastic and 3 min of labor. The cost for each luxury model is $40, and the cost for each standard model is $30. If a minimum 7 10 lb of plastic and 330 labor minutes are to be used every day for the production of steppers, how many steppers of each model should Gamma Galaxy produce each day in order to minimize its cost? What is the optimal cost? Hint: Use the iso-profit line analysis to make the solution shorter and easier)

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