Differential Calculus for Functions of Several Variables

In many cases a retailer is not capable of settling an invoice immediately upon receiving it and is given an option by the supplier to settle the invoice within a definite period. The retailer can sell the goods before the deadline, accumulate revenue and earn interest. If the retailer is not able to meet his obligations within the deadline, he is charged an interest. This paper introduces a newly constructed model which enables a retailer to set an optimal price of goods under permissible delay in payments, and to determine the maximum term of payment. The model is based on the assumption of time-dependent demand and has been developed for non-deteriorating goods. The paper further analyzes a situation in which the retailer sell all the goods in time, and a situation in which the deadline was not met. Theoretical results are demonstrated by an illustrative example. The authors of the paper used methods of analysis and synthesis, and the method of mathematical analysis (differential calculus of multivariable functions, solution of ordinary differential equations).The model suggested in the paper can be expanded in the future. One option is generalization of the model, allowing for the lack of goods, bulk discounts, etc.

Download Full-text

Differential Calculus for Functions of Several Variables

Mathematical Formulas for Economists ◽

10.1007/978-3-662-12431-4_11 ◽

2002 ◽

pp. 101-112

Author(s):

Bernd Luderer ◽

Volker Nollau ◽

Klaus Vetters

Keyword(s):

Differential Calculus ◽

Several Variables

Download Full-text

The mathematical analysis. Volume 2

10.12737/1072172 ◽

2020 ◽

Author(s):

Galina Zhukova ◽

Margarita Rushaylo

Keyword(s):

Field Theory ◽

Quality Control ◽

Fourier Series ◽

Mathematical Analysis ◽

Differential Calculus ◽

Analytic Geometry ◽

Postgraduate Students ◽

Several Variables ◽

Basic Concepts ◽

Control Knowledge

The aim of the tutorial is to help students to master the basic concepts and methods of the study of calculus. In volume 2 we study analytic geometry in space; differential calculus of functions of several variables; local, conditional, global extrema of functions of several variables; multiple, curvilinear and surface integrals; elements of field theory; numerical, power series, Taylor series and Maclaurin, and Fourier series; applications to the analysis and solution of applied problems. Great attention is paid to comparison of these methods, the proper choice of study design tasks, analyze complex situations that arise in the study of these branches of mathematical analysis. For self-training and quality control knowledge given test questions. For teachers, students and postgraduate students studying mathematical analysis.

Download Full-text