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The Economic Order Quantity model in economics says that the reorder cost C is given in terms of quantity ordered q by
C(q)=p+hq+(k/q)
where p,h, and k are constants. Suppose p=4, h=1, and k=9 . What is the economic order quantity? In other words, find the value of q that minimizes the cost C(q)with q>0
C(q)=p+hq+(k/q)
where p,h, and k are constants. Suppose p=4, h=1, and k=9 . What is the economic order quantity? In other words, find the value of q that minimizes the cost C(q)with q>0