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Sensitivity Analysis for Profit Maximization with Respect to Per Unit Cost of Subsidiary Raw Materials

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 article the sensitivity analysis of an economic model is provided with detail mathematical analysis. To achieve maximum profit through sustainable way in the competitive global economy; an organization must scrutinize sensitivity analysis efficiently. In the study Cobb-Douglas production function is operated. Method of Lagrange multiplier is applied here when sensitivity analysis is investigated to obtain accurate results. The paper also uses the bordered Hessian and Jacobian to propel mathematical methods appropriately.

Keywords: Lagrange multiplier; economic inputs; profit maximization; sensitivity analysis (search for similar items in EconPapers)
JEL-codes: C32 C51 C52 C61 C67 C68 I25 (search for similar items in EconPapers)
Date: 2023-01-07, Revised 2023-01-10
New Economics Papers: this item is included in nep-eff
References: Add references at CitEc
Citations: View citations in EconPapers (18)

Published in Frontiers in Management Scienc 2.2(2023): pp. 13-28

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