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Mathematical Model for Nonlinear Budget Constraint: Economic Activities on Increased Budget

Author

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  • Devajit Mohajan

    (Department of Civil Engineering, Chittagong University of Engineering & Technology, Chittagong, Bangladesh)

  • Haradhan Kumar Mohajan

    (Department of Mathematics, Premier University, Chittagong, Bangladesh)

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.

Suggested Citation

  • Devajit Mohajan & Haradhan Kumar Mohajan, 2023. "Mathematical Model for Nonlinear Budget Constraint: Economic Activities on Increased Budget," Studies in Social Science & Humanities, Paradigm Academic Press, vol. 2(5), pages 20-40, May.
    • Handle: RePEc:bdz:ssosch:v:2:y:2023:i:5:p:20-40
    DOI: 10.56397/SSSH.2023.05.03
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