Call Us +234 817 1750 304

 Benue State University, Makurdi

Journal of Economics & Applied Research (JESR) Vol.2 No.2


Review of the use of Production Functions in Research

Dr. I. D. Ekpendu, Mr Koku K. Obiyai and Dr. I. A. Ogidi

Abstract

Production functions are very vital means of knowing how inputs relate to output. Some studies carried out by researchers have gone beyond the use of productions in determining the relationship between input, but have tried to accouna institutional nstitutional and environmental/actors external to the Ain. Many researchers have used different types ofproduction limetions in their studies. They include the linear, quadratic and Cobb-Douglas production functions. The choice of any functional form depends on the econometric criteria of that particular study. This paper is aimed at viewed the use of production 'Unctions and recommend measures that would assist researchers in making their choice °lithe use ofproductionfunctions. It was recommended among others that researchers should consider first the three decision rules ad stated by Yotopoulos (1967) before making a choice ofthe functional form to use.

Key words: Production, Research, Review, Fuctions.

DOWNLOAD COMPLETE ARTICLE HERE (CLICK)

Copyright © Benue State University 2024. All rights reserved.
Powered by Directorate of ICT, BSUM