When Demand Is Inelastic, a Decrease in Price Will Result

question 164

True/False

When demand is inelastic, a decrease in price will result in an increase in total revenue.

Differentiate between continuous review and periodic review inventory policies.

Calculate safety inventory and reorder points (ROP) for given demand distributions.

Comprehend how inventory policies affect product availability measures.

Understand the relationship between lot size reduction, fixed order cost, and optimal lot size.

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