A Price-Dependent Demand Model in the Single Period Inventory System with Price Adjustment

Pseudocode 2

Pseudocode for obtaining the optimal revised price (𝑝^∗).

Function  𝑝^∗

 case ratio_function   of

  Linear:

     𝑝^∗=𝑝(𝑐₀,𝛽𝑝₀)

  Two_Segment:

     𝑝₁=𝑝(𝑐₀,𝑝₀)

     𝑝₂=𝑝(𝑐₀,𝛽𝑝₀)

        if  𝜇_NPV(𝑝₁)>𝜇_NPV(𝑝₂)  then

            𝑝^∗=𝑝₁

        else

            𝑝^∗=𝑝₂

        End if

  Exponential:

     𝑝^∗=𝑝(𝑐₀,∞)

 End case

 return  𝑝^∗

End Function