Abstract
The chief objective of the North Carolina study was the derivation of equations for predicting fertilizer consumption in the year ahead for two regions of the United States.l It was expected that such prediction equations could be used, with the judgment of fertilizer producers, to arrive at more accurate forecasts of fertilizer consumption than previously could be made. The South Atlantic2 and East North Central regions were chosen because of differences in their historical pattern of increase in consumption and because they are the two regions of greatest fertilizer consumption in the United States. Predictive variables considered in this study fall into five general classes: (1) the price of output, (2) the price of the input specifically being considered, (3) the prices of associated (substitutable or complementary) inputs, (4) the units of the fixed input to which the variable input is applied, and (5) factors which limit the farm firm in attaining the equilibrium conditions.
Published Version
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