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| Beyers, Lindie. |
| Managerial ability, albeit an illusive concept, is related to analysis of size economies in South Africa's dairy production sector. Data from the 1997 production cost survey of 394 farms was used in econometric estimation of long run average cost (LAC) functions for different levels of (a proxy of) managerial ability. Results show that the LAC curves are U-shaped with greater economies than diseconomies of size. Also, better managers are shown to profitably produce any level of output at lower average cost per litre than other managers. In addition their optimum levels of output are between two and four times as large as firms with average or low levels of management. The better-managed enterprises are on average operating below their optimum levels,... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Farm Management; Livestock Production/Industries. |
| Ano: 2001 |
URL: http://purl.umn.edu/18050 |
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| Beyers, Lindie; Hassan, Rashid M.. |
| A parametric approach was followed in this study to analyse milk production and supply systems based on farm level production cost data from a cross-section of dairy farms in South Africa for the 1997/1998 production year. Both single equation and system estimation techniques were applied to Normalised Quadratic, Normalised Translog and standard Translog specifications of the profit and derived output supply and input demand functions. Estimated functions were evaluated for adherence to structural properties. Results showed that convexity of the profit function in all prices holds in South African milk production. Uncompensated and compensated price elasticities of supply and demand were calculated. The results indicated that milk production and... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Livestock Production/Industries. |
| Ano: 2000 |
URL: http://purl.umn.edu/18059 |
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