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A company needs 200,000 items per year. It costs the company $960 to prepare a production...

A company needs 200,000 items per year. It costs the company $960 to prepare a production run of these items and $15 to produce each item. If it also costs the company $1.50 per year for each item stored, find the number of items that should be produced in each run so that total costs of production and storage are minimized.

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