Output Maximization of an Agency

Pahlaj Moolio, Jamal Nazrul Islam (pahlajmoolio@gmail.com) and Dr Haradhan Mohajan (haradhan1971@gmail.com)
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Jamal Nazrul Islam: Pannasastra University of Cambodia, Phnom Penh, Cambodia.

Indus Journal of Management & Social Science (IJMSS), 2009, vol. 3, issue 1, 39-51

Abstract: Considering Cobb-Douglas function in three variables as an explicit form of production function, in this paper an attempt has been made to maximize an output subject to a budget constraint, using Lagrange multipliers technique, as well as necessary and sufficient conditions for optimal value have been applied. We gave interpretation of Lagrange multiplier in this specific illustration, showing its positive value, and examined the behavior of the agency.

Keywords: Lagrange Multipliers; Economic Problems; Maximizing Output Function; Budget Constraints; Explicit Examples. (search for similar items in EconPapers)
JEL-codes: C31 D24 I38 L21 L25 M11 (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (41)

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http://indus.edu.pk/RePEc/iih/journl/4-OutputMaximizationofanAgency.pdf (application/pdf)

Related works:
Working Paper: Output Maximization of an Agency (2009)
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