Question: We have discussed two different types of inventory models in class: economic order quantity (EOQ) and economic production quantity (EPO) models. 1) Products with what

We have discussed two different types of inventory models in class: economic order quantity (EOQ) and economic production quantity (EPO) models. 1) Products with what type of characteristics would be more suitable to be applied an EOQ model? (2 pts) ii) Products with what type of characteristics would be more suitable to be applied an EPQ model? (2 pts) iii) What is the main trade-off in deciding the order quantity in an EOQ model? Hint: such as what types of costs are involved in the model. (4 pts) iv) What is the main trade-off in deciding the order quantity in an EPQ.model? Hint: such as what types of costs are involved in the model. (4 pts)

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