IE 405 Homework 7 l. Radioco manufactures two types of radios. The only scarce resource is labor. At present, the company has two laborers. Laborer 1 is willing to work up to 40 hours per week and is paid $5 per hour. Laborer 2 is willing to work up to 50 hours per week and is paid $6 per hour. The price as well as the resources needed to produce the radios are as shown: Radio 1 Radio 2 Price $25 $22 Raw material cost $5 $4 Hours of laborer l 1 2 Hours of laborer 2 2 1 Therefore, the total prot for each radio 1 is $3 and the total prot for each radio 1 is $2. Letting x1. be the number of each radio type, i=1,2, we have the following LP (with slack variables added): max 2 2 3x1 + 2162 s.t. x1 + 2x2 + s1 = 40 (Laborer 1) 2x1 + x2 + s2 = 50 (Laborer 2) x1,x2,sl,sz 20