Elasticity of demand is a measure of market response to a change in price. Three definitions of elasticity of demand are commonly found in the literature: (1) [var epsilon]p = point elasticity, defined for a given point on the demand function and relies on the derivative of the function at that...

Evaluation of corporate performance generally relies on ratios, usually relating some measure of output to a measure of input. Although there are many ratios to choose from, managers and analysts tend to concentrate on a relatively small number of criteria, since a plethora of measures can be...

This paper investigates the effects of investment decisions on unit cost, profit and return on capital. Its purpose is to propose an alternative formulation to conventional cash flow methods for investment appraisal. This formulation can be combined with a methodology for assessing the short-run...

When several products are processed one at a time on a single machine, the conventional approach of computing the economic batch quantity for each product cannot apply. An example for six products is considered, where the total production capacity on regular time is inadequate, so that overtime...

The welfare of an individual enterprise, as well as that of the national economy, very much depends on productivity. But it appears that methods for determining measures of productivity are lamentably unsophisticated and lead to many ambiguities and inconsistencies. It is generally suggested...

A two-person non-zero sum game may have two distinct solutions: the maximin strategy and the equilibrium point. The choice of solution depends on the players' objectives and it can be shown that, although strategies may be found that are better than the maximin solution in terms of payoff,...