The determination of the ratio between cash and near-cash assets is based on a tradeoff between opportunity cost and conversion cost. Discuss. How is the Miller-Orr model different from the Baumol...

The determination of the ratio between cash and near-cash assets is based on a tradeoff between opportunity cost and conversion cost. Discuss.

How is the Miller-Orr model different from the Baumol model? How do you determine the upper limit, point of return and the average cash level under the Miller-Orr model?