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| Alves, Eliseu Roberto de Andrade. |
| The article deals with the cost function at a mathematical level that only requires knowledge of differentials, but except for that, it keeps rigor at a high level. It only states theorems that require long proofs. The article justifies the existence of the cost function, points out its properties, and shows how it relates with the production function in the sense that one is the dual to the other. The article discusses partial and scale elasticities, both in the context of production and cost functions. Whenever profit is maximized, one is the reciprocal of the other. The cost function has not a defined form in the sense that it can be deduced from the axioms of production theory. But the articles points out the plausibility of the form that resembles an... |
| Tipo: Journal Article |
Palavras-chave: Cost function; Production function; Return to scale; Average cost; Profit; Production Economics. |
| Ano: 2007 |
URL: http://purl.umn.edu/54595 |
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| Alves, Eliseu Roberto de Andrade. |
| The paper develops the concept of return to scale at an elementary level, but rigorously. It is argued that constant and increasing returns are incompatible with competitive markets, because they imply the convergence to few firms, and this is not the case for the real world. The main point is that average cost curve has the shape of a U, and, without restrictions, the firms converge to the branch of decreasing returns. If on the real world is detected increasing or constant returns, it suggests that it should be looked for the market imperfection that are the base of them. And results of increasing or constant returns of econometric models must be taken as a sign of market imperfections. Yet the knowledge of the market imperfections is crucial to design... |
| Tipo: Journal Article |
Palavras-chave: Return to scale; Market structure; Crops; Production Economics. |
| Ano: 2004 |
URL: http://purl.umn.edu/56784 |
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| Onumah, Edward E.; Acquah, H. de-Graft. |
| This paper considers the stochastic production frontier approach to analyse the technical efficiency and its determinants of fish farms in Ghana using a cross-section data of 150 farms. It considers the explicit effects of family and hired labour on production by setting the log-value of the zero-observation of these two sources of labour to zero with dummy variables. Results demonstrate that expected elasticities of mean output with respect to all input variables are positive and significant. Findings also show that family and hired labour used for fish farming in Ghana may be equally productive. Fish farms in Ghana are revealed to be characterised by technology with increasing return to scale. The combined effects of operational and farm specific factors... |
| Tipo: Journal Article |
Palavras-chave: Technical efficiency; Stochastic frontier; Elasticity; Return to scale; Farm Management; Productivity Analysis; GA; IN. |
| Ano: 2011 |
URL: http://purl.umn.edu/109738 |
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| Marchant S,Ricardo. |
| The pork meat industry in Chile exhibits significant rates of production growth, with a decreasing trend in the wholesale market price and growing levels of concentration of the supply in a reduced number of companies. The structural element that sustains concentration and expansion of the production is the presence of increasing returns to scale in the production process. This investigation had the objective to verify the presence of economies of scale in this industry. Using a Cobb-Douglas cost function and the assumption of maximization of the benefits of the company in imperfect competition markets, an econometric model was estimated, that allowed considering indirectly the coefficients of the function of underlying production. One was that for the... |
| Tipo: Journal article |
Palavras-chave: Return to scale; Pork meat industry. |
| Ano: 2007 |
URL: http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0365-28072007000300008 |
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