MATHEMATICAL MODELING OF THE MARKET OF THREE GOODS IN TERMS OF SUPPLY LAG

Keywords: mathematical model,, demand function, supply function, equilibrium, delivery lag, initial conditions

Abstract

The mathematical model of the free market of three goods in the conditions of supply lag in the interval of discrete time with market parameters, demand vector and initial conditions is considered. The results of simulation modeling of the market of 3 goods with the values of parameters and initial conditions are obtained. Graphs of the optimal dynamics of prices of three competing goods, graphs of the dynamics of demand for the three competing goods at the optimal dynamics of prices are analyzed. Graphically presents the dynamics of additional supplies of three competing products, the order of which was made steps earlier in forecasting at time t optimal prices. It was found that during the initial time interval the balances of unsold goods accumulate, the market is overstocked, so at the end of the interval orders for goods are terminated. The dynamics of the optimal allowable total deliveries of goods to the market and the graphs of the dynamics of sales of goods are presented and analyzed. The dynamics of the maximum allowable profit of the seller is obtained.

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Published
2022-01-28
How to Cite
Bilousova, T. (2022). MATHEMATICAL MODELING OF THE MARKET OF THREE GOODS IN TERMS OF SUPPLY LAG. Taurida Scientific Herald. Series: Economics, (11), 108-113. https://doi.org/10.32851/2708-0366/2022.11.15
Section
MATHEMATICAL METHODS, MODELS AND INFORMATION TECHNOLOGIES IN ECONOMY