Question

Define economic option quantity and its assumption

Answer 1

A dominant assumption in mainstream economic thinking, ... In simple language, it means the economist can hold all  

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Scarcity. As mentioned before, our wants and needs are virtually unlimited, but our resources to satisfy those desires are limited. ...

Supply and Demand. ...

Incentives. ...

Purchasing Power.

Answer 2

Explanation:

Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs. ... The formula assumes that demand, ordering, and holding costs all remain constant.