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A company needs to produce 288,000 items per year. Production costs are $1500 to prepare for a production run and $30 for each item produced. Inventory costs are $1.50 per year for each item stored. Find the number of items

A company needs to produce 288,000 items per year. Production costs are $1500 to prepare for a production run and $30 for each item produced. Inventory costs are $1.50 per year for each item stored. Find the number of items that should be produced in each run so that the total costs of production and storage are minimum.

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Total production cost 1500 2880003…View the full answer


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Mathematical Applications for the Management Life and Social Sciences

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Posted Date: February 09, 2018 06:59:57
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