Question: What are the basic assumptions underlying the classical EOQ model? Mention a few situations where these assumptions may not be valid and therefore the EOQ

What are the basic assumptions underlying the classical EOQ model? Mention a few situations where these assumptions may not be valid and therefore the EOQ model cannot be used straightaway. In such situations, check the validity of the basic concepts behind the EOQ model. How could these concepts, if they are valid, be used in such situations?

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