AGRICULTURAL OUTPUT SUPPLY AND INPUT DEMAND RELATIONSHIPS WITH ENDOGENOUS LAND RENTS

This study analyzed supply functions for agricultural output and demand functions for factors of production for Georgia. These relationships were derived with duality theory from a normalized quadratic profit function. Land has been included in other duality studies as a fixed factor as opposed to an endogenous factor. In this study, the system of supply and demand equations was augmented with a supply equation for land, which allowed land rents to be an endogenous factor. Consequently it was possible to measure the impact of output and input prices on land rents.


Issue Date:
1989-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/30113
Published in:
Southern Journal of Agricultural Economics, Volume 21, Number 2
Page range:
13-20
Total Pages:
8




 Record created 2017-04-01, last modified 2017-08-24

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