The best prices of three mutually complementary merchandises in the fuzzy sense

✍ Scribed by Kweimei Wu

• Publisher: Elsevier Science
• Year: 2001
• Tongue: English
• Weight: 202 KB
• Volume: 117
• Category: Article
• ISSN: 0165-0114
• DOI: 10.1016/s0165-0114(98)00240-1

✦ Synopsis

Let the demand functions of three mutually complementary merchandises X1; X2; X3 be x1 = a1 -a2P1

, with aj¿0, bj¿0, cj¿0, j = 1; 2; 3; 4, known. The total revenue is R(P1; P2; P3) = x1P1 + x2P2 + x3P3. The monopolists can ÿnd the best prices P * * 1 , P * * 2 , P * * 3 for X1, X2, X3 that make R(P1; P2; P3) reach its maximum. In this paper, we deal with a perfect competitive market and ÿnd out the best prices in the fuzzy sense to get the maximum revenue.