Question: Quantitative Question (Write legibly; Credit will be given only if appropriate work is done.) A company purchases semiprecious stones to make braclets and rings. The

Quantitative Question (Write legibly; Credit will

Quantitative Question (Write legibly; Credit will be given only if appropriate work is done.) A company purchases semiprecious stones to make braclets and rings. The supplier quotes the following quanity/price schedule: Quanity 1 - 399 400 - 599 600 or more Price/Unit $10 $9 $8 The company uses 5,000 stones per year, and the ordering cost is $48 each time. If the annual carrying costs are 30% of unit cost, what is the optimal size? Show relevant work

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