In the basic EOQ model, suppose the stock is replenished uniformly (rather than instantaneously) at the rate

Question:

In the basic EOQ model, suppose the stock is replenished uniformly (rather than instantaneously) at the rate of b items per unit time until the order quantity Q is fulfilled. Withdrawals from the inventory are made at the rate of a items per unit time, where a

(a) Find the total cost per unit time in terms of the setup cost K, production quantity Q, unit cost c, holding cost h, withdrawal rate a, and replenishment rate b.
(b) Determine the economic order quantity Q*.

Economic Order Quantity
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. This production-scheduling model was developed in 1913 by Ford W. Harris and has...