Theoretical, conceptual and estimational issues relevant to economies of size studies are discussed in this paper. Some of the issues discussed are the effects of technological change on the position and shape of the average cost curve over time, the relationship between farm size and relative...

Theoretical, conceptual and estimational issues relevant to economies of size studies are discussed in this paper. Some of the issues discussed are the effects of technological change on the position and shape of the average cost curve over time, the relationship between farm size and relative...

The flexibility of production and the bias of technical change in the Wheat- Sheep Zone has been examined by estimating the system of derived output and input share equations from a translog variable profit function. This analysis was undertaken for three outputs (sheep and wool, crops, and beef...

The demand for production inputs by the average property in the Australian sheep industry and substitution between these inputs was examined in this paper by estimating the set of input share demand equations derived from a transcendental logarithmic cost function. The following five input...