14 A particular raw material is available to a company at three different prices, depending on the size of the order:

The cost to place an order is $40. Annual demand is 3,000 units. Holding (or carrying) cost is 25 percent of the material price. What is the economic order quantity to buy each time?

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Less than 100 pounds 100 pounds to 1,000 pounds More than 1,000 pounds $20 per pound $19 per pound $18 per pound