| Article ID: | iaor19881 |
| Country: | United Kingdom |
| Volume: | 9 |
| Issue: | 3 |
| Start Page Number: | 253 |
| End Page Number: | 272 |
| Publication Date: | Jul 1988 |
| Journal: | Optimal Control Applications & Methods |
| Authors: | Hartl R.F. |
| Keywords: | management |
A monopolistic firm is considered that can choose between two production activities: a capital-intensive one and a labour-intensive one. The successive stages of evolution of the firm are discussed for several alternative formulations of the objective functional. The effect of a minimum employment constraint is investigated and other sensitivity results are provided.