The EOQ model is solved using calculus but the key intuition is that relevant total costs are minimized when relevant ordering costs equal relevant carrying costs.

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This statement is true. The Economic Order Quantity (EOQ) model is based on the assumption that relevant total costs can be minimized by balancing ordering costs and carrying costs. This can be mathematically derived by finding the point at which the derivative of the total cost function with respect to the order quantity is equal to zero. Solving this equation gives us the EOQ formula, which represents the optimal order quantity for a given set of parameters.

The EOQ Model Is Solved Using Calculus but the Key