Abstract
A translog cost function in the form of a third-order series Taylor expansion was used for the estimation of cost in the Greek non-ferrous metal industry which is based on an annual time series for the period 1969–1990 concerning: the price of production factors, the production volume, and the total cost of production. The estimated cost function permit us to have average and marginal cost curves of typical form for each time-point. Also, it is useful for projecting costs and the optimum scale of production under conditions which concern 1. (i) the development of prices, production and product factors and 2. (ii) demand.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
