Discrete Mathematics and Combinatorics Commons^™

Cobb-Douglas Based Firm Production Model Under Fuzzy Environment And Its Solution Using Geometric Programming, Palash Mandal, Arindam Garai, Tapan K. Roy

Applications and Applied Mathematics: An International Journal (AAM)

In this paper, we consider Cobb-Douglas production function based model in a firm under fuzzy environment, and its solution technique by making use of geometric programming. A firm may use many finite inputs such as labour, capital, coal, iron etc. to produce one single output. It is well known that the primary intention of using production function is to determine maximum output for any given combination of inputs. Also, the firm may gain competitive advantages if it can buy and sell in any quantities at exogenously given prices, independent of initial production decisions. On the other hand, in reality, constraints …