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On a geometric programming approach to profit maximization: the case of CES technology

Author

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  • Vedran Kojić

    (Faculty of Economics and Business, University of Zagreb)

Abstract

In this note, we give a generalization of the results for the profit maximization problem in the case of the Cobb-Douglas production function presented by Liu in [Appl. Math. Comput. 182 (2006), 1093-1097]. By using geometric programming, we solve a profit maximization problem in the case of the CES production function and show how the results obtained by Liu can be derived from our results.

Suggested Citation

  • Vedran Kojić, 2021. "On a geometric programming approach to profit maximization: the case of CES technology," EFZG Working Papers Series 2105, Faculty of Economics and Business, University of Zagreb.
    • Handle: RePEc:zag:wpaper:2105
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    More about this item

    Keywords

    profit maximization; Cobb-Douglas technology; CES technology; geometric programming;
    All these keywords.

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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