The Responses of an Organization for the Increase in Wage Rates: Profit Maximization Cases

Devajit Mohajan and Haradhan Mohajan
Authors registered in the RePEc Author Service: Dr Haradhan Kumar Mohajan ()

MPRA Paper from University Library of Munich, Germany

Abstract: Every organization expects to achieve maximum profit for its survival economic environment. To develop profit maximization strategy an organization must be sincere in economic sensitivity analysis. In this study sensitivity analysis is inspected to predict about the economic situation for the efficient production of the organization. Here scientific based production policy is indicated subject to a budget constraint, using Lagrange multiplier technique.

Keywords: Profit maximization; Lagrange multiplier; wage; sensitivity analysis (search for similar items in EconPapers)
JEL-codes: C3 C54 C61 C65 C67 C81 D6 I3 J3 J31 (search for similar items in EconPapers)
Date: 2023-06-09, Revised 2023-06-10
New Economics Papers: this item is included in nep-eff
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in Law and Economy 8.2(2023): pp. 14-29

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/118238/1/Profit-MPRA-8-8-23.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:118238

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 ().