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Agricultural Output Supply and Input Demand Relationships with Endogenous Land Rents

Published online by Cambridge University Press:  05 September 2016

Arlyn R. Maligaya  and
Fred C. White
Arlyn R. Maligaya
Affiliation:
Department of Agricultural Economics, University of Kentucky
Fred C. White
Affiliation:
Department of Agricultural Economics, University of Georgia, Athens
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Abstract

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.

Keywords

agricultural output supplyinput demandagricultural technologyland rentsstatic duality
Type
Submitted Articles
Information
Journal of Agricultural and Applied Economics , Volume 21 , Issue 2 , December 1989 , pp. 13 - 20
Copyright
Copyright © Southern Agricultural Economics Association 1989

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