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1. A local company, PaperWorld, uses 1000 reams of paper annually, and works 50 weeks per year. It costs $5 to place an order for

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1. A local company, PaperWorld, uses 1000 reams of paper annually, and works 50 weeks per year. It costs $5 to place an order for paper. The annual holding cost rate is $1 per ream. a) What is the EOQ? (5 points) by what is total cost of ordering the EOQ? (setup holding cost) (5 points)

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