The determination of the Ultimate Pit Limit (UPL) is the first step in the open pit mine planning process. In this stage that parts of the mineral deposit that are economic to mine are determined. There are several mathematical, heuristic and meta-heuristic algorithms to determine UPL. The optimization criterion in these algorithms is maximization of the total profit whilst satisfying...

A dataset is a list of observed factor inputs and prices for a technology; profits and production levels are unobserved. We obtain necessary and sufficient conditions for a dataset to be consistent with profit maximization under a monotone and concave revenue based on the notion of cyclic monotonicity. Our result implies that monotonicity and concavity cannot be tested, and that one cannot deci...

Cloud computing is a novel paradigm for the provision of computing infrastructure, which aims to shift the location of the computing infrastructure to the network in order to reduce the costs of management and maintenance of hardware and software resources. To maximize the profit, a service provider should understand both service charges and business costs. Our pricing model takes such factors ...

We utilize the analytical construct of a stochastic supply function to provide an aggregate representation of a finite class of standard deterministic supply functions. We introduce a consistency postulate for a stochastic supply function that may be satisfied even if no underlying deterministic supply function is rationalizable in terms of profit maximization. Our consistency postulate is none...

This study derives pure strategy Bertrand equilibria in a duopoly in which two firms produce a homogeneous good with convex cost functions and seek to maximize the weighted sum of their absolute and relative profits. The study shows that there exists a range of equilibrium prices in duopolistic equilibria. This range of equilibrium prices is narrower and lower than the range of equilibrium pric...

The importance in promoting, sustaining industries, manufacturing systems and economy through reliability measurement has become an area of interest. The profit of a system may be enhanced using highly reliable structural design of the system or subsystem of higher reliability. On improving the reliability and availability of a system, the production and associated profit will also increase. Re...

In this paper, we study the non-monotone DR-submodular function maximization over integer lattice. Functions lattice have been defined submodular property that is similar to submodularity of set functions. a further extended concept for functions lattice, which captures diminishing return property. Such find many applications in machine learning, social networks, wireless etc. The techniques ca...