Input price, isocost and maximum output under fuzziness
Mathematical Social SciencesPublished 1 June 1987
Guoquan Chen, Eden S. H. Yu
Citations3
SJR quartileQ1
SJR score0.58
SNIP0.77
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TL;DR
The notions of fuzzy prices and fuzzy isocost are developed and the optimal solution to the problem of maximizing fuzzy output subject to the constraint of a fuzzy isOCost is delineated.
Abstract
Abstract This paper develops the notions of fuzzy prices and fuzzy isocost and delineates the optimal solution to the problem of maximizing fuzzy output subject to the constraint of a fuzzy isocost. Fuzzy set theory is applied to capture the fuzzy aspects of production. The properties of interest regarding fuzzy isocosts are also established.
Keywords
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