Article contents
The Frontier Production Function: A Tool for Improved Decision Making
Published online by Cambridge University Press: 10 May 2017
Extract
A frontier production function may be thought of as a “best practice” production function (Førsund and Jansen) or a function that expresses the maximum product obtainable from various combinations of factors given the existing state of technical knowledge. It is the theoretical counterpart to farm enterprise budgets or processing plant budgets derived by economic engineering methods to describe the best possible production processes.
- Type
- Invited Papers
- Information
- Journal of the Northeastern Agricultural Economics Council , Volume 9 , Issue 2 , October 1980 , pp. 1 - 10
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- Copyright © Northeastern Agricultural and Resource Economics Association
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