Assignment:
Explain the major assumptions of the basic EOQ model? What is the relationship of the economic order quantity to demand? To the holding cost? To the setup cost? Explain why it is not necessary to include product cost (price or price times quantity) in the EOQ model, but the quantity discount model requires this information.
Your answer must be typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.