10. Consider the following graph and answer the True and False questions below. (14 pts) Costs of Ordering and Carrying Inventory ($) Total Inventory Costs (TIC) Total Carrying Cost(TCC) Total Ordering Cost (TOC) EOQ Order Size (Units) Circle the correct answer. 1. T or F Carry costs increase linearly as the firm purchases more inventory. 2. T or F Ordering costs decrease with less frequent orders as demand increases. 3. T or F EOQ is always the cheapest inventory system regardless of the quantity discounts offered. 4. T or F EOQ is a model that minimizes Total carrying costs no matter what the order size is. 5. T or F EOQ will help a firm minimize TIC and thereby, maximize shareholder wealth. 6. T or F Safety stock will alter the EOQ point on the graph. 7. T or F An EOQ model cannot be used if the firm uses a just-in-time inventory system