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Author Question: In the economic order quantity (EOQ) model, the optimum order quantity is obtained by identifying ... (Read 99 times)

mydiamond

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on: Jul 6, 2018
In the economic order quantity (EOQ) model, the optimum order quantity is obtained by identifying where the total cost curve and the ordering costs curve intersect.
 
  Indicate whether the statement is true or false.

Question 2

The goal of the economic order quantity (EOQ) model is to maximize the total costs that are categorized as carrying costs and ordering costs.
 
  Indicate whether the statement is true or false.


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cuttiesgirl16

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Reply #1 on: Jul 6, 2018
Answer to Question 1

Answer: FALSE
Explanation: The optimum order quantity is obtained by identifying where the carrying costs curve and the ordering costs curve intersect.

Answer to Question 2

Answer: FALSE
Explanation: The goal of economic order quantity (EOQ) is to minimize, not maximize, the total costs that are categorized as carrying costs and ordering costs.


mydiamond

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Reply 2 on: Jul 6, 2018
YES! Correct, THANKS for helping me on my review

mcabuhat

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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