Question: please show work 3) Monthly demand for a product is approximately 1000 units. The setup/ordering cost is $1000 and the annual holding cost is 30%

please show work please show work 3) Monthly demand for a product is approximately 1000

3) Monthly demand for a product is approximately 1000 units. The setup/ordering cost is $1000 and the annual holding cost is 30% of the purchase price. The purchase price depends on the order quantity, as listed in the table below. Determine the optimal order quantity that minimizes TC, the total annual cost. [Extra Credit: Graph and print the TC as a function of Q from Q-1000 to Q-6000.] Order Quantity Purchase Price Q' Q3 2000 EffectiveQ TO $50.00 2000 sQ 5000 $49.50 Q2 5000 $49.00

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