What is economic orderliness?

Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs. ... 1 The formula assumes that demand, ordering, and holding costs all remain constant.

Explanation:

"choosing is refusing" means individuals face an opportunity cost with each decision they make. economists state that every decision involves trade-offs. opportunity cost is the least desirable alternative given up as a result of a decision.

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