Opadiji, JayeolaKaihara, Toshiya2019-06-032019-06-032007http://hdl.handle.net/123456789/2023We propose a competitive market-based model which uses price mechanism in an economy to determine an optimal allocation of resources among a set of trading agents. A supply network is represented by a set of production agents, which make use of the resources available to them in the market to produce an output defined by their technologies and demand agents seeking to maximize returns based on manufacturing budget. We take into consideration, changes in quantity of primary production factors – capital and labour – at facility locations. The resource allocation table obtained from simulation is a measure of value of market resources and facility capacities in the supply network.enOptimal Resource AllocationCompetitive MarketSupply NetworkArticle