MAXIMIZING SALES UNDER CONDITIONS OF NONLENARTY

Nina Kosta Petković, Milan Bozinovic

DOI Number
-
First page
269
Last page
278

Abstract


This paper deals with the problem of maximizing the sales of a particular product when the revenue function is nonlinear in dependence of the demand for that product. This type of problem is usually solved by the nonlinear programming method which has been sufficiently described in mathematical theory; however, its use is not that simple. Solving functions of more than two variables is rather complicated and requires an appropriate mathematical model as well as suitable software for computer solving of the given problem, which sometimes involves team work.

Key words: Nonlinear programming, Kuhn-Tucker conditions, revenue function, demand


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References


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