scholarly journals Monopoly Profit Maximization: Success and Economic Principles

2014 ◽  
Author(s):  
Korbinian von Blanckenburg ◽  
Milena Neubert
Keyword(s):  
Profit Maximization ◽  
Monopoly Profit

scholarly journals Monopoly Profit Maximization: Success and Economic Principles

2015 ◽  
Vol 2015 ◽  
pp. 1-10 ◽  
Author(s):  
Korbinian von Blanckenburg ◽  
Milena Neubert
Keyword(s):  
Demand Function ◽  
Profit Maximization ◽  
Search Strategies ◽  
Pricing Strategies ◽  
Full Information ◽  
Trial And Error ◽  
Production Decisions ◽  
Monopoly Profit ◽  
Classroom Experiment

This paper presents a classroom experiment on pricing strategies available to monopolists. Each student makes production decisions as a monopolist during the experiment, learning from his/her own experiences what it means to be a price searcher. Full information is provided on cost conditions, while the demand function remains unknown to the participants. Given a sufficient number of periods, students will in principle be able to maximise their profits by applying a simple trial and error strategy. However, one of the objectives of the experiment is to demonstrate to students that search strategies based on economic principles are more efficient.

A Linear Programming Model for Product Mix Profit Maximization in A Small Medium Enterprise Company

2020 ◽  
Vol 6 (1) ◽  
Author(s):  
S Mohd Baki ◽  
Jack Kie Cheng
Keyword(s):  
Linear Programming ◽  
Production Planning ◽  
Business Performance ◽  
Programming Model ◽  
Profit Maximization ◽  
Optimal Level ◽  
Linear Programming Model ◽  
Product Mix ◽  
Small Medium Enterprises ◽  
Medium Enterprises

Production planning is often challenging for small medium enterprises (SMEs) company. Most of the SMEs are having difficulty in determining the optimal level of the production output which can affect their business performance. Product mix optimization is one of the main key for production planning. Many company have used linear programming model in determining the optimal combination of various products that need to be produced in order to maximize profit. Thus, this study aims for profit maximization of a SME company in Malaysia by using linear programming model. The purposes of this study are to identify the current process in the production line and to formulate a linear programming model that would suggest a viable product mix to ensure optimum profitability for the company. ABC Sdn Bhd is selected as a case study company for product mix profit maximization study. Some conclusive observations have been drawn and recommendations have been suggested. This study will provide the company and other companies, particularly in Malaysia, an exposure of linear programming method in making decisions to determine the maximum profit for different product mix.

Corporate Social Responsibility in Hospitals: Need for Transparent CSR Initiatives for Internal and External Stakeholders

Think India ◽  
2014 ◽  
Vol 17 (1) ◽  
pp. 1-7
Author(s):  
Vedantam Leela
Keyword(s):  
Social Responsibility ◽  
Profit Maximization ◽  
Healthcare Sector ◽  
Medical Procedures ◽  
Healthcare Industry ◽  
External Stakeholders ◽  
Good For ◽  
Social Environmental ◽  
Corporate Social ◽  
Strategic Balance

Social Responsibility initiatives are the indispensible strategies for governance and this applies equally well in the field of Corporate framework also. In the recent times, the corporate houses other than healthcare industry, evidently demonstrated that strategic balance among social, environmental, and commercial goals can be accomplished. Corporate hospitals contemporary functioning rests on the anarchic assumptions that healthcare industry functions on the notion that what is good for patients or society cannot be good for business. At a time when patients are overexposed to medical procedures and medical treatment is within the reach of affordability of only those who are well insured, there arises a question,is it not essential for corporate hospitals to adopt CSR initiatives. An important corollary question, that also needs to be examined, is whether and for what reasons CSR initiatives must be nurtured by Corporate Hospitals. Drawing up from the existing research studies on CSR in corporate hospitals in Indian scenario i.e., corporate hospitals and healthcare sector, this paper (i) undertakes a thorough examination of the CSR initiatives needs a thorough examination, (ii) examines the implications of modelling of CSR in corporate hospitals so as to create a right balance between their social and economic objectives, (iii) to this extent, the paper hypothesizes that (a) employee costs of corporate hospitals may positively increase due to CSR initiatives, (b) profit maximization i.e. positive increases due to CSR initiatives, and (c) the degree of workforce efficiency positively increases sales turnover due to CSR initiatives.

Constraint aware profit maximization scheduling of tasks in heterogeneous datacenters

Computing ◽  
2020 ◽  
Vol 102 (10) ◽  
pp. 2229-2255
Author(s):  
Chinmaya Kumar Swain ◽  
Bhawana Gupta ◽  
Aryabartta Sahu
Keyword(s):  
Profit Maximization

scholarly journals Investigation on firm efficiency: evidence from selected Asia-Pacific countries

2018 ◽  
Vol 25 (8) ◽  
pp. 3062-3080 ◽  
Author(s):  
Khar Mang Tan ◽  
Fakarudin Kamarudin ◽  
Amin Noordin Bany-Ariffin ◽  
Norhuda Abdul Rahim
Keyword(s):  
Technical Efficiency ◽  
Small Firms ◽  
Banking Sector ◽  
Profit Maximization ◽  
Asia Pacific ◽  
Scale Efficiency ◽  
Scale Level ◽  
Firm Efficiency ◽  
Content Type ◽  
Parametric Data

Purpose The purpose of this paper is to examine the firm efficiency or technical efficiency (TE), pure technical efficiency (PTE) and scale efficiency (SE) in the selected developed and developing Asia-Pacific countries. Design/methodology/approach The sample consists of a sum of 700 firms in selected developed and developing Asia-Pacific countries over the period from 2009 to 2015. The non-parametric data envelopment analysis under the production approach is used to investigate firm efficiency. Findings On average, this paper discovers that the firms in selected Asia-Pacific countries are moderately efficient. Scale inefficiency (SIE) is found to be the dominant source of firms’ technical inefficiency. The analysis of return to scale shows that the large firms tend to operate at decreasing return to scale level, while the small firms tend to operate at increasing return to scale level. Practical implications The findings from this paper provide significant insights to the policy makers and firm managers in promoting the efficient firms of Asia-Pacific countries. Originality/value The present paper conducts a critical analysis on return to scale in the firms sector of Asia-Pacific context, which is ignored by the past studies on firm efficiency since the analysis of return to scale is mostly emphasized on banking sector. The precise nature of SIE is important for a firm to be efficient in achieving the firm’s primary goals of profit maximization and sustaining market competitiveness.

Enslaved Financing of Southern Industry: The Nesbitt Manufacturing Company of South Carolina, 1836–1850

2021 ◽  
pp. 1-44
Author(s):  
SHARON ANN MURPHY
Keyword(s):  
South Carolina ◽  
Profit Maximization ◽  
Market Value ◽  
Financial Assets ◽  
Market Exchange ◽  
Loan Contracts ◽  
Company Stock ◽  
Antebellum Period ◽  
Manufacturing Company ◽  
Panic Of 1837

Incorporated on the eve of the Panic of 1837, the Nesbitt Manufacturing Company of South Carolina owned and hired enslaved individuals to labor in their ironworks, but they also leveraged the market value of this enslaved property by exchanging them for shares of company stock and offering them as collateral in loan contracts. These slaveholders actively experimented with increasingly sophisticated financial tools and institutions in order to facilitate investment, market exchange, and profit maximization within the system of enslavement. Although historians have examined the role of enslaved labor in industrial concerns, they have largely ignored their role in the financing of these operations. Understanding the multiple ways that southerners were turning enslaved property into liquid, flexible financial assets is essential to understanding the depth and breadth of the system of enslavement. In doing so, we can move beyond questions of whether slavery was compatible with industrialization specifically and capitalism more broadly, to an understanding of how slavery and capitalism interacted to promote southern economic development in the antebellum period. At the same time, the experience of the Nesbitt Company reveals the limits of enslaved financing. The aftermath of the Panic of 1837 demonstrated that the market value of enslaved property was much more volatile than enslavers cared to admit. Although southerners could often endure this volatility in the case of enslaved laborers working on plantations or in factories, it made the financialization of slavery a much riskier endeavor for an emerging industrial regime.

scholarly journals Genetic Algorithm for the Retailers’ Shelf Space Allocation Profit Maximization Problem

2021 ◽  
Vol 11 (14) ◽  
pp. 6401
Author(s):  
Kateryna Czerniachowska ◽  
Karina Sachpazidu-Wójcicka ◽  
Piotr Sulikowski ◽  
Marcin Hernes ◽  
Artur Rot
Keyword(s):  
Genetic Algorithm ◽  
Profit Maximization ◽  
Allocation Rule ◽  
Maximization Problem ◽  
Shelf Space ◽  
Allocation Model ◽  
Space Allocation ◽  
Shelf Space Allocation ◽  
To Receive

This paper discusses the problem of retailers’ profit maximization regarding displaying products on the planogram shelves, which may have different dimensions in each store but allocate the same product sets. We develop a mathematical model and a genetic algorithm for solving the shelf space allocation problem with the criteria of retailers’ profit maximization. The implemented program executes in a reasonable time. The quality of the genetic algorithm has been evaluated using the CPLEX solver. We determine four groups of constraints for the products that should be allocated on a shelf: shelf constraints, shelf type constraints, product constraints, and virtual segment constraints. The validity of the developed genetic algorithm has been checked on 25 retailing test cases. Computational results prove that the proposed approach allows for obtaining efficient results in short running time, and the developed complex shelf space allocation model, which considers multiple attributes of a shelf, segment, and product, as well as product capping and nesting allocation rule, is of high practical relevance. The proposed approach allows retailers to receive higher store profits with regard to the actual merchandising rules.

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