On a Problem Of Maximization of Some Indicators in the Discrete Time Models of Economic Dynamics


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Authors

  • Sabir Isa Hamidov Department of Mathematical Cybernetics, Baku State University, Baku, Azerbaijan

Keywords:

Consumption, Cobb-Douglas function, maximization

Abstract

We consider $n$ single-product models, each of which is given by the production function and the safety coefficient. The total workforce is also given which is distributed between these models in such a way that to maximize the total consumption, total production and total national wealth. As the production functions of the models is considered the Cobb-Douglas function with constant elasticity substitution (CES). The conditions are given under which the total consumption, total production and total national wealth reaches maximum.

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Published

15-08-2017

How to Cite

Sabir Isa Hamidov. (2017). On a Problem Of Maximization of Some Indicators in the Discrete Time Models of Economic Dynamics. International Journal of Mathematics And Its Applications, 5(3 - B), 199–202. Retrieved from http://ijmaa.in/index.php/ijmaa/article/view/866

Issue

Section

Research Article