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Entropy 2011, 13(6), 1137-1151;

Maximum Profit Configurations of Commercial Engines

Institute for Advanced Study, Wuhan University, Wuhan 430072, China
Received: 19 April 2011 / Revised: 20 May 2011 / Accepted: 31 May 2011 / Published: 7 June 2011
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An investigation of commercial engines with finite capacity low- and high-price economic subsystems and a generalized commodity transfer law [n ∝ Δ (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. View Full-Text
Keywords: finite time thermodynamics; commercial engine; optimal configuration finite time thermodynamics; commercial engine; optimal configuration

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Chen, Y. Maximum Profit Configurations of Commercial Engines. Entropy 2011, 13, 1137-1151.

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