Unless you are a philanthropist running a nonprofit organization, your main motivation for being in business is to generate a healthy income. How you reach that objective, however, will depend on many ...

Sales are the first step toward profits. Without sales, there are no profits. Profit is also called income, net profits and net income. Sales are also called revenues and result from products and ...

Learn how utility functions derive demand functions and their role in maximizing consumer satisfaction and economic decision making.

Journal of Farm Economics, Vol. 39, No. 5, Proceedings of the Annual Meeting of the American Farm Economic Association (Dec., 1957), pp. 1689-1692 (4 pages) ...

We consider assortment and price optimization problems under the d-level nested logit model. In the assortment optimization problem, the goal is to find the revenue-maximizing assortment of products ...