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Determine the open intervals on which the graph of is concave downward or concave upward.
Ordering Costs
Expenses associated with placing orders for inventory, including administrative expenses, delivery charges, and any other costs related to buying goods or services.
Carrying Costs
Carrying costs are the total expenses associated with holding or storing inventories over a certain period.
Set-Up Costs
Initial expenses incurred during the establishment of a new business or production line, including equipment and installation fees.
Storage Costs
Expenses associated with keeping goods in a warehouse or storage facility until they are sold or used.
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