This paper considers the properties of an optimal production schedule for a multi-product firm, where the economics of production include employment smoothing costs. The results extend the findings of [Lippman, Steven A., Alan J. Rolfe, Harvey M. Wagner, John S. C. Yuan. 1967. Optimal production...

In this paper we study a model that minimizes the sum of production, employment smoothing, and inventory costs subject to a schedule of known demand requirements over a finite time horizon. The three instrumental variables are work force producing at regular-time, work force producing on...