Estimation of a Production Function for Philippine Retail Stores
Estimation of a Production Function for Philippine Retail Stores
Author(s): Jason C. PatalinghugSubject(s): Business Economy / Management, Micro-Economics, Labor relations
Published by: Oikos institut-Istraživački centar Bijeljina
Keywords: production function; retail industry; Philippines;
Summary/Abstract: The purpose of this paper is the estimation of a production function for retail stores in the Philippines. A generalized Cobb-Douglas production function is utilized for this purpose. Ordinary Least Squares is used in obtaining the coefficients for labor and capital. The results show that the marginal product of labor to be higher than the marginal product of capital and the hypothesis of constant returns to scale is not rejected.
Journal: ECONOMICS-INNOVATIVE AND ECONOMICS RESEARCH JOURNAL
- Issue Year: 7/2019
- Issue No: 1
- Page Range: 69-79
- Page Count: 11
- Language: English