Suppose 100,000 lamps are to be manufactured annually. It costs $1 to store a lamp for 1
Question:
Suppose 100,000 lamps are to be manufactured annually. It costs $1 to store a lamp for 1 year, and it costs $500 to set up the factory to produce a batch of lamps.
(a) Find the number of lamps to produce in each batch.
(b) Find the number of batches of lamps that should be manufactured annually.
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Step by Step Answer:
a Use equation 3 with k 1 M 100000 and f 500 ...View the full answer
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