Question $12$

$1$ pts

Question $16$: As we reduce the inventory levels:

Both would increase

Both the cost of having too much and too little would reduce

The cost of having too much inventory would increase and the cost of having too little would reduce

The cost of having too much inventory would reduce and the cost of having too little would increase

Question $13$

$1$ pts

A key advantage of a Just$-$In$-$Time $($JIT$)$ ordering system is:

Higher inventory holding costs

Simplified order processing

Reduced inventory carrying costs