A production function highly concave in inputs will have a dual profit function less convex in prices. Even large variations in prices will cause little variation in input usage and output, resulting in poor profit function estimates. This is demonstrated using Monte Carlo simulation with various curvatures and error structures.

We developed an inventory model for decaying items with selling price dependent demand in inflationary environment. Deterioration rate is taken as two parameter Weibull distribution. Shortages in inventory are allowed with partial backlogging. Backlogging rate is taken as exponential decreasing function of time. Profit maximization technique is used in this study.

This short note provides a systematic construction of market models without unbounded profits but with arbitrage opportunities.

We report our analysis, using account data from a large discount brokerage firm, of the common stock investment performance of 166 investment clubs from February 1991 through January 1997. The average club tilted its common stock investment toward high-beta, small-cap growth stocks and turned over 65 percent of its portfolio annually. The average club lagged the performance of a broad-based mar...

In many cases, buyers must incur search costs to find the price of a product. This search cost affects the behavior of consumers, and through that, it affects the profit maximizing behavior of the firms. As search costs change, so do the competitive marketing mix strategies of the firms. In predicting the effect of changing search costs on the equilibrium prices and allocations, it is important...

When deciding about changes in levels of multiple marketing investments aimed at improving profits, managers need to know whether they are on the uphill side or the downhill side of the profit function with respect to each investment variable. Spending errors made by an uphill-located firm that believes that it is a downhill-located firm can have serious consequences. This article offers an eco...

the study is an analysis of processing methods, marketing channels, and profitability determinants of selected cassava products in kogi state, nigeria. the study was carried out in kogi east senatorial district of the state. a multi-stage sampling technique was employed in the selection of 120 respondents from whom information were collected and analyzed. the data used for the study were collec...

the effects of cutting subsidy on broiler production in kerman province were investigated after privitization. in this regard a random sample of 32 poultry farms in kerman were chosen and the farmers were interviewed. the unit- output - price profit function model was used to determine the supply and demand elasticity of broider products. the results show that the profit of poultry farms increa...

Abstract Background Farm productivity on smallholder family-owned crop farms remains low despite several interventions to transform agriculture especially in developing countries. Farmers rural areas face serious constraints that impede their productive capacities for the principal dietary staple, notably maize. Smallholder farmers have access unprofitable markets turn make enterprises less pro...