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Name: A company needs 450,000 items per year. Production costs are 500$ to p
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Description: A company needs 450,000 items per year. Production costs are 500$ to prepare for a production run and 10$ for each item produced. Inventory costs are 2$ per item per year. Find the number of items that should be produced in each run so that the total

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter12: Algebra Of Matrices

Section12.CR: Review Problem Set

Problem 37CR

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A company needs 450,000 items per year. Production costs are 500$ to prepare for a production run and 10$ for each item produced. Inventory costs are 2$ per item per year. Find the number of items that should be produced in each run so that the total costs of production and storage are minimized.

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