Studies in Optimization to Solve the Problems of Economics : Lagrange Multiplier Problems in Economics

Language: English

Published by LAP Lambert Academic Publishing, 2012

384848272X / 9783848482726

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nach der Bestellung gedruckt Neuware - Printed after ordering - The applications of optimization to economic problems have received considerable attention of scholars in recent decades. It refers to the selection of a best solution from a set of available alternatives. This study examines behavioral responses of consumers or firms when prices of inputs change. Specifically, the author minimizes the cost of a firm subject to output constraint, maximizes the output of a firm subject to budget constraint, maximizes the utility of an individual subject to multiple constraints assuming that during emergencies such as war or natural disaster consumers may pay for goods with money and surrender ration coupons, maximizes the utility of an individual subject to quadratic and cubic budget constraints encountered in daily life during quantity discounts offered by some markets/firms or quantity surcharge imposed by the regulation of governments, maximizes the output subject to nonlinear budget constraint assuming that firms get price discounts for purchasing larger quantities of inputs, and optimizes the social welfare of a community subject to utility maximization constraints and derives production functions in three commodity-three consumer economy.

Seller Inventory # 9783848482726

Title
Studies in Optimization to Solve the Problems of Economics : Lagrange Multiplier Problems in Economics
Author
Pahlaj Moolio
Publisher
LAP Lambert Academic Publishing
Publication year
2012
Condition
Neu
Binding
Taschenbuch
Language
English
ISBN 10
384848272X
ISBN 13
9783848482726
Item weight
213 grams
Dimensions
220x150x8 mm

AHA-BUCH GmbH

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