Question: 1. What are the assumptions on which Economic Order Quantities (E.O.Q.) are based. Please describe in detail. 2. For what kind of items are these

1. What are the assumptions on which Economic Order Quantities (E.O.Q.) are based. Please describe in detail. 2. For what kind of items are these assumptions valid? When are they not valid and why? 3. What are the relevant costs to be considered when deciding whether to take a quantity discount? On what basis should the decision be made

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