OPTIMUM RESOURCE ALLOCATION: ESTIMATES FOR FRESH-MILK PRODUCERS IN NATAL

The allocation of some of the more important inputs in the production of fresh milk in three regions of Natal is assessed with the use of production functions. The marginal rate of substitution criteria is used to establish least cost combinations of concentrates and pastures in East Griqualand and in the Natal Midlands, and concentrates and forages in the Ixopo area. Estimates of profit-maximizing combinations of inputs are also presented for the three regions. The results indicate that fresh-milk farmers need to reassess their combinations of inputs to improve profits.


Issue Date:
1988-02
Publication Type:
Journal Article
Record Identifier:
http://ageconsearch.umn.edu/record/267173
ISSN:
0303-1853
Language:
English
Published in:
Agrekon, Volume 27, Issue 1
Page range:
9-14




 Record created 2018-01-25, last modified 2018-04-02

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