A Study on Nonlinear Budget Constraint of a Local Industrial Firm of Bangladesh: A Profit Maximization Investigation

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 local or global firm expects to achieve maximum profit for its survival in sustainable economic environment. This article considers that a local industrial firm of Bangladesh has achieved maximum profit during its total operation. So that this study directly tries to calculate maximum profit and also Lagrange multiplier for profit maximization investigation by the consideration of nonlinear budget constraint. In this study Cobb-Douglas production function is considered as profit function to operate mathematical procedures. Method of Lagrange multiplier is also applied here to obtain accurate results.

Keywords: Profit maximization; Lagrange multiplier; nonlinear budget constraint (search for similar items in EconPapers)
JEL-codes: C02 C38 C41 C51 C52 C53 C61 C67 E2 E27 I3 J3 (search for similar items in EconPapers)
Date: 2023-03-25, Revised 2023-03-27
New Economics Papers: this item is included in nep-eff
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Published in Law and Economy 5.2(2023): pp. 27-33

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:117324

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