Which of the following statements about the basic EOQ model is true? Question 10 options:

If the ordering cost were to double, the EOQ would rise.

If annual demand were to double, the EOQ would increase.

If holding costs increase then the EOQ would decrease.

If annual demand were to double, the number of orders per year would increase.

All of the statements are true.

Which of the following is NOT true regarding the differences between goods and services? Question 11 options:

Most goods are common to many customers; services are often unique to the final customer.

Tangible goods are generally produced and consumed simultaneously; services are not.

All of the other answers are true.

Services tend to be more knowledge based than goods.

Services tend to have higher customer interaction than goods.