Maximum profit configurations of commercial engines (Q400872)

Summary: An investigation of commercial engines with finite capacity low- and high-price economic subsystems and a generalized commodity transfer law \([n\propto\Delta(P^m)]\) in commodity flow processes, in which effects of the price elasticities of supply and demand are introduced, is presented in this paper. Optimal cycle configurations of commercial engines for maximum profit are obtained by applying optimal control theory. In some special cases, the eventual state -- market equilibrium -- is solely determined by the initial conditions and the inherent characteristics of two subsystems; while the different ways of transfer affect the model in respects of the specific forms of the paths of prices and the instantaneous commodity flow, i.e., the optimal configuration.