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

Authors
Journal
Fuzzy Sets and Systems
0165-0114
Publisher
Elsevier
Publication Date
Volume
117
Issue
1
Identifiers
DOI: 10.1016/s0165-0114(98)00240-1
Keywords
  • Economics
  • Fuzzy Demand
  • Fuzzy Total Revenue
  • Mutually Complementary Merchandise

Abstract

Abstract Let the demand functions of three mutually complementary merchandises X 1,X 2,X 3 be x 1=a 1−a 2P 1+a 3P 2+a 4P 3 , x 2=b 1+b 2P 1−b 3P 2+b 4P 3 , x 3=c 1+c 2P 1+c 3P 2−c 4P 3 , 0⩽P 1⩽a 1/a 2 , 0⩽P 2⩽b 1/b 3 , 0⩽P 3⩽c 1/c 4 , with a j>0 , b j>0 , c j>0 , j=1,2,3,4, known. The total revenue is R(P 1,P 2,P 3)=x 1P 1+x 2P 2+x 3P 3 . The monopolists can find the best prices P 1 ∗∗ , P 2 ∗∗ , P 3 ∗∗ for X 1 , X 2 , X 3 that make R(P 1,P 2,P 3) reach its maximum. In this paper, we deal with a perfect competitive market and find out the best prices in the fuzzy sense to get the maximum revenue.

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