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  3. (1) answer both questions below about the eoq mode

(1) Answer both questions below about the EOQ model. (a) In the EOQ model, unit product...

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Question

General Management

(1) Answer both questions below about the EOQ model.

(a) In the EOQ model, unit product cost or selling price, C, isnot included in the formula we use to solve for the economic orderquantity. Explain why it is not necessary to include thisinformation in the EOQ formula.

(b) What are the major limitations of the EOQ model?

Answer & Explanation Solved by verified expert
4.2 Ratings (629 Votes)
1 Economic order quantity is the quantity which is most economical to order in other word economic order quantity is the size of the order which gives the maximum economy in purchasing any material and ultimately contributed towards    See Answer
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