Mathematical Model for Nonlinear Budget Constraint: Economic Activities on Increased Budget
Devajit Mohajan and
Haradhan Mohajan
Authors registered in the RePEc Author Service: Dr Haradhan Kumar Mohajan (haradhan1971@gmail.com)
MPRA Paper from University Library of Munich, Germany
Abstract:
In this study economic predictions of the various inputs are analyzed when the budget of the organization increases. Method of Lagrange multiplier is applied here to work with nonlinear budget constraint for the achievement of the profit maximization atmosphere. In the study 6×6 bordered Hessian matrix and 6×6 Jacobian matrix are also operated for the prediction of economic analysis. In mathematical economics, efficient and wise decisions can provide profit maximization setting, which is essential for the sustainability of the industrial organizations.
Keywords: Lagrange multiplier; nonlinear budget constraint; increased budget (search for similar items in EconPapers)
JEL-codes: C3 C31 C38 C51 C53 C58 C61 C67 C68 D6 E2 J3 (search for similar items in EconPapers)
Date: 2023-03-15, Revised 2023-03-17
References: Add references at CitEc
Citations:
Published in Studies in Social Science & Humanities 2.5(2023): pp. 20-40
Downloads: (external link)
https://mpra.ub.uni-muenchen.de/117299/1/Pro%20-MPRA-13-5-23.pdf original version (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:117299
Access Statistics for this paper
More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter (winter@lmu.de).