IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/114801.html
   My bibliography  Save this paper

Maximum profit ensured for industry sustainability

Author

Listed:
  • Mohajan, Haradhan

Abstract

This article tries to calculate a maximum profit from sale items of an industry. This study has considered three inputs, such as capital, labor, and raw materials and other inputs for the mathematical analysis of the production procedures of the industry. In the present competitive global economy policy, to survive strongly, there is no alternate of sustainable economy. For the survival of an industry, profit maximization policy is vital. To acquire maximum profit, the production unit of the industry must be run in an efficient way. In this study an attempt has been taken to maximize the profit of an industry using Lagrange multiplier technique by applying necessary and sufficient conditions.

Suggested Citation

  • Mohajan, Haradhan, 2022. "Maximum profit ensured for industry sustainability," MPRA Paper 114801, University Library of Munich, Germany, revised 15 May 2022.
    • Handle: RePEc:pra:mprapa:114801
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/114801/1/MPRA_paper_114801.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jamal Nazrul Islam & Haradhan Kumar Mohajan & Pahlaj Moolio, 2010. "Utility Maximization Subject to Multiple Constraints," Indus Journal of Management & Social Science (IJMSS), Department of Business Administration, vol. 4(1), pages 15-29, December.
    2. ROY, Lia & MOLLA, Rashed & MOHAJAN, Haradhan Kumar, 2021. "Cost Minimization Is Essential For The Sustainable Development Of An Industry: A Mathematical Economic Model Approach," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 21(1), pages 37-71.
    3. Mohajan, Haradhan, 2022. "Four Waves of Feminism: A Blessing for Global Humanity," MPRA Paper 114328, University Library of Munich, Germany, revised 09 Jul 2022.
    4. MOHAJAN, Haradhan Kumar, 2021. "Estimation Of Cost Minimization Of Garments Sector By Cobb-Douglas Production Function: Bangladesh Perspective," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 21(2), pages 247-267.
    5. Haradhan Kumar MOHAJAN, 2018. "Qualitative research methodology in social sciences and related subjects," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 7(1), pages 23-48, March.
    6. Mohajan, Haradhan, 2017. "Optimization Models in Mathematical Economics," MPRA Paper 83185, University Library of Munich, Germany, revised 11 Apr 2017.
    7. MOHAJAN, Haradhan Kumar, 2017. "Two Criteria For Good Measurements In Research: Validity And Reliability," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 17(4), pages 59-82.
    8. Pahlaj Moolio & Jamal Nazrul Islam & Haradhan Kumar Mohajan, 2009. "Output Maximization of an Agency," Indus Journal of Management & Social Science (IJMSS), Department of Business Administration, vol. 3(1), pages 39-51, June.
    9. Mohajan, Haradhan, 2022. "Mathematical Analysis of SIR Model for COVID-19 Transmission," MPRA Paper 114390, University Library of Munich, Germany, revised 10 Jul 2022.
    10. Mohajan, Haradhan, 2020. "Quantitative Research: A Successful Investigation in Natural and Social Sciences," MPRA Paper 105149, University Library of Munich, Germany, revised 15 Nov 2020.
    11. Mohajan, Haradhan, 2021. "Product Maximization Techniques of a Factory of Bangladesh: A Sustainable Procedure," MPRA Paper 108094, University Library of Munich, Germany, revised 15 May 2021.
    12. Mohajan, Devajit & Mohajan, Haradhan, 2022. "Feminism and feminist grounded theory: a comprehensive research analysis," MPRA Paper 114914, University Library of Munich, Germany, revised 15 Jul 2022.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Mathematical Model for Nonlinear Budget Constraint: Economic Activities on Increased Budget," MPRA Paper 117299, University Library of Munich, Germany, revised 17 Mar 2023.
    2. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Long-Term Regular Exercise Increases V̇O2max for Cardiorespiratory Fitness," MPRA Paper 116962, University Library of Munich, Germany, revised 04 Feb 2023.
    3. Mohajan, Devajit & Mohajan, Haradhan, 2023. "A Study on Body Fat Percentage for Physical Fitness and Prevention of Obesity: A Two Compartment Model," MPRA Paper 117158, University Library of Munich, Germany, revised Feb 2023.
    4. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Glaserian Grounded Theory and Straussian Grounded Theory: Two Standard Qualitative Research Approaches in Social Science," MPRA Paper 117017, University Library of Munich, Germany, revised 20 Feb 2023.
    5. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Various Problems Arise in Industrial Economics If Wage Rate Increases: A Study for Nonlinear Budget Constraint," MPRA Paper 117553, University Library of Munich, Germany, revised 04 Apr 2023.
    6. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Sensitivity Analysis between Lagrange Multipliers and Consumer Budget: Utility Maximization Case," MPRA Paper 116907, University Library of Munich, Germany, revised 19 Feb 2023.
    7. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Sensitivity Analysis of Inputs of an Organization: A Profit Maximization Exploration," MPRA Paper 117121, University Library of Munich, Germany, revised 12 Mar 2023.
    8. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Bulimia Nervosa: A Psychiatric Problem of Disorder," MPRA Paper 117258, University Library of Munich, Germany, revised 17 Mar 2023.
    9. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Sensitivity Analysis for Utility Maximization: A Study on Lagrange Multipliers and Commodity Coupons," MPRA Paper 117077, University Library of Munich, Germany, revised 06 Jan 2023.
    10. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Economic Aspects of Profit Maximization if Cost of Principal Raw Material Increases," MPRA Paper 117453, University Library of Munich, Germany, revised 22 Mar 2023.
    11. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Economic Situations of Lagrange Multiplier When Costs of Various Inputs Increase for Nonlinear Budget Constraint," MPRA Paper 116879, University Library of Munich, Germany, revised 12 Feb 2023.
    12. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Broca Index: A Simple Tool to Measure Ideal Body Weight," MPRA Paper 116852, University Library of Munich, Germany, revised 18 Jan 2023.
    13. Mohajan, Devajit & Mohajan, Haradhan, 2023. "A Study on Nonlinear Budget Constraint of a Local Industrial Firm of Bangladesh: A Profit Maximization Investigation," MPRA Paper 117324, University Library of Munich, Germany, revised 27 Mar 2023.
    14. Mohajan, Devajit & Mohajan, Haradhan, 2023. "Sensitivity Analysis for Profit Maximization with Respect to Per Unit Cost of Subsidiary Raw Materials," MPRA Paper 116538, University Library of Munich, Germany, revised 10 Jan 2023.
    15. Mohajan, Devajit & Mohajan, Haradhan, 2023. "The Responses of an Organization for the Increase in Wage Rates: Profit Maximization Cases," MPRA Paper 118238, University Library of Munich, Germany, revised 10 Jun 2023.
    16. Mohajan, Haradhan, 2022. "Cost minimization analysis of a running firm with economic policy," MPRA Paper 114951, University Library of Munich, Germany, revised 04 May 2022.
    17. Mohajan, Devajit & Mohajan, Haradhan, 2022. "Sensitivity Analysis among Commodities and Coupons during Utility Maximization," MPRA Paper 115554, University Library of Munich, Germany, revised 04 Oct 2022.
    18. Mohajan, Devajit & Mohajan, Haradhan, 2022. "Sensitivity Analysis between Lagrange Multipliers and Consumer Coupon: Utility Maximization Perspective," MPRA Paper 116022, University Library of Munich, Germany, revised 16 Sep 2022.
    19. Mohajan, Devajit & Mohajan, Haradhan, 2023. "An Economical Study When Cost of Irregular Raw Materials of an Industry Increases for Nonlinear Budget Constraint," MPRA Paper 118176, University Library of Munich, Germany, revised 05 May 2023.
    20. Mohajan, Devajit & Mohajan, Haradhan, 2022. "Sensitivity Analysis between Commodity and Budget: Utility Maximization Case," MPRA Paper 116495, University Library of Munich, Germany, revised 20 Dec 2022.

    More about this item

    Keywords

    Lagrange multiplier; profit maximization; Hesian matrix;
    All these keywords.

    JEL classification:

    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:114801. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.