Optimal control of production and market
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Sung-Bin Choi; Hark Hwang
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Article
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2007
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John Wiley and Sons
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English
⚖ 658 KB
This paper deals with the problem of production and advertising policy for a decaying item whose gradual loss of potential or utility is associated with the passage of time, such as grain, photographic film or electronic components. The delay effects of the advertisement on the sales rate are also c