The campus bookstore sells 10,000 sets of graduation regalia each year. Placing an order from their supplier
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Question:
The campus bookstore sells 10,000 sets of graduation regalia each year. Placing an order from their supplier costs $50 regardless of order quantity, so they usually place a large order (a half year's supply) at a time. It costs $7 per year to hold a cap and gown in inventory, primarily insurance costs for the highly flammable material. What is their economic order quantity?
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