Mohajan, Devajit and Mohajan, Haradhan (2022): Utility Maximization Analysis of an Organization: A Mathematical Economic Procedure. Published in: Law and Economy , Vol. 3, No. 1 (26 December 2022): pp. 115.

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Abstract
In the society utility is the vital concept, especially in mathematical economics. It is considered as the tendency of an object or action that increases or decreases overall happiness. In social sciences, the property of a commodity that enables to satisfy human wants is called utility. This paper has tried to operate utility maximization policy of an organization by considering two constraints: budget constraint and coupon constraint. To develop the maximization policy of utility function, the techniques of multivariate calculus are used. In this study four commodity variables are used to operate the mathematical analysis efficiently. In this article Lagrange multiplier technique is applied to achieve optimal result throughout the study.
Item Type:  MPRA Paper 

Original Title:  Utility Maximization Analysis of an Organization: A Mathematical Economic Procedure 
English Title:  Utility Maximization Analysis of an Organization: A Mathematical Economic Procedure 
Language:  English 
Keywords:  Commodities, Lagrange multipliers, utility maximization, budget and coupon constraints 
Subjects:  C  Mathematical and Quantitative Methods > C3  Multiple or Simultaneous Equation Models ; Multiple Variables C  Mathematical and Quantitative Methods > C5  Econometric Modeling > C51  Model Construction and Estimation C  Mathematical and Quantitative Methods > C5  Econometric Modeling > C52  Model Evaluation, Validation, and Selection C  Mathematical and Quantitative Methods > C5  Econometric Modeling > C53  Forecasting and Prediction Methods ; Simulation Methods C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C61  Optimization Techniques ; Programming Models ; Dynamic Analysis C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C67  InputOutput Models I  Health, Education, and Welfare > I3  Welfare, WellBeing, and Poverty > I31  General Welfare, WellBeing O  Economic Development, Innovation, Technological Change, and Growth > O1  Economic Development 
Item ID:  115791 
Depositing User:  Haradhan Kumar Mohajan 
Date Deposited:  27 Dec 2022 08:25 
Last Modified:  27 Dec 2022 08:25 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/115791 