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- Title
SOLVING MICROECONOMIC MODEL USING METHODS OF FUNCTIONAL ANALYSIS.
- Authors
ŠKAPA, Stanislav; NOVOTNÁ, Veronika
- Abstract
Models in microeconomics are usually created in order to achieve corporate goals such as boosting the performance, efficiency, or to secure a company's survival in the time of crisis. This paper presents a nonlinear dynamical model of production, warehousing, and sale of fast moving consumer goods, while respecting the effect of historical values on current changes. The model can be used for planning production, or as part of models dealing with cooperation or competition. The solution is demonstrated on a practical example and is presented graphically.
- Subjects
MICROECONOMICS; ECONOMIC models; FUNCTIONAL analysis; PROBLEM solving; ECONOMIC competition; NUMERICAL solutions to functional differential equations
- Publication
Economic Computation & Economic Cybernetics Studies & Research, 2018, Vol 52, Issue 1, p77
- ISSN
0424-267X
- Publication type
Article
- DOI
10.24818/18423264/52.1.18.05