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THE OPTIMAL CAPACITY EXPANSION POLICY FOR A MULTI‐PRODUCT FIRM UNDER A DYNAMIC FRAMEWORK *
Author(s) -
Sengupta J. K.,
Sen A.
Publication year - 1973
Publication title -
metroeconomica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.256
H-Index - 29
eISSN - 1467-999X
pISSN - 0026-1386
DOI - 10.1111/j.1467-999x.1973.tb00541.x
Subject(s) - production (economics) , dynamic programming , product (mathematics) , function (biology) , industrial organization , capital (architecture) , economics , microeconomics , mathematical optimization , mathematics , history , geometry , archaeology , evolutionary biology , biology
A bstract . An optimal capacity policy model for a multi‐product firm is constructed in a dynamic programming framework, which assumes the following: all current inputs have a perfectly competitive market, all capital resources are limitational, though capable of being utilized in more than one production line and there is a marketing cost function of a specified type for the outputs sold.
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