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Exact(40)
this cutoff and yields the first order condition.
The order condition is, however, only a sufficient condition.
For a continuing plant, the first order condition for q t is the same as (7).
The concavity of g n,i is verified with the first order condition [31].
The first order condition is Sigma a-lambda left(mu -rmathbf{1}right -kappa theta =0.
Substituting the first order condition into equation (3.9), we can complete the proof.
Similar(20)
This is the familiar first-order condition for economic efficiency.
Hence the first-order condition for optimality cannot be applied.
Note that the only modification that will be made to the first-order condition is the first-order condition with respect to γ.
The solution in (i) satisfies the second-order condition for the maximum.
Utilizing the first-order condition of the above profit, the optimal order quantity is determined.
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