MAXIMIZING SALES UNDER CONDITIONS OF NONLENARTY Cover Image

MAXIMIZING SALES UNDER CONDITIONS OF NONLENARTY
MAXIMIZING SALES UNDER CONDITIONS OF NONLENARTY

Author(s): Nina Petković, Milan Božinović
Subject(s): Business Economy / Management, Micro-Economics
Published by: Универзитет у Нишу
Keywords: Nonlinear programming; Kuhn-Tucker conditions; revenue function; demand

Summary/Abstract: This paper deals with the problem of maximizing the sales of a particular product when the revenue function is nonlinear in dependence of the demand for that product. This type of problem is usually solved by the nonlinear programming method which has been sufficiently described in mathematical theory; however, its use is not that simple. Solving functions of more than two variables is rather complicated and requires an appropriate mathematical model as well as suitable software for computer solving of the given problem, which sometimes involves team work.

  • Issue Year: 12/2015
  • Issue No: 4
  • Page Range: 269-278
  • Page Count: 10
  • Language: English
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