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Use the following problem statement to answer questions 1 - 6 Alex wants to determine the best order quantity for mechanical pencils. He buys the
Use the following problem statement to answer questions Alex wants to determine the best order quantity for mechanical pencils. He buys the mechanical pencils from a wholesaler. The wholesaler offers discounts for large orders. He expects an annual demand of units. It costs $ to place an order. The annual cost of holding a unit in stock is percent of the unit's price. The price schedule that the wholesaler offers is shown in the table below. Answer the following questions. Round to four decimal places.
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