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Maximum Profit Configurations of Commercial Engines
Institute for Advanced Study, Wuhan University, Wuhan 430072, China
Received: 19 April 2011; in revised form: 20 May 2011 / Accepted: 31 May 2011 / Published: 7 June 2011
Abstract: 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.
Keywords: finite time thermodynamics; commercial engine; optimal configuration
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MDPI and ACS Style
Chen, Y. Maximum Profit Configurations of Commercial Engines. Entropy 2011, 13, 1137-1151.
Chen Y. Maximum Profit Configurations of Commercial Engines. Entropy. 2011; 13(6):1137-1151.
Chen, Yiran. 2011. "Maximum Profit Configurations of Commercial Engines." Entropy 13, no. 6: 1137-1151.