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Output Maximization of an Agency

  • Pahlaj Moolio
  • Jamal Nazrul Islam


    (Pannasastra University of Cambodia, Phnom Penh, Cambodia.)

  • Haradhan Kumar Mohajan

    (Premier University, Chittagong, Bangladesh)

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.

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Article provided by Department of Business Administration in its journal Indus Journal of Management & Social Science (IJMSS).

Volume (Year): 3 (2009)
Issue (Month): 1 (June)
Pages: 39-51

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Handle: RePEc:iih:journl:v:3:y:2009:i:1:p:39-51
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  1. Pahlaj Moolio & Jamal Nazrul Islam, 2008. "Cost Minimization of a Competitive Firm," Indus Journal of Management & Social Science (IJMSS), Department of Business Administration, vol. 2(2), pages 148-160, December.
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