« previous next »

Author Question: What are the major issues that must be considered in measuring inputs for regression analysis of ... (Read 42 times)

Medesa

  • Hero Member
  • *****
  • Posts: 507
on: Jul 1, 2018
What are the major issues that must be considered in measuring inputs for regression analysis of production functions?
 
  What will be an ideal response?

Question 2

How would you choose to estimate a production function for a single plant? How would you choose to estimate a production function for a number of firms in an industry? Explain.
 
  What will be an ideal response?


karmakat49

  • Sr. Member
  • ****
  • Posts: 369
Reply #1 on: Jul 1, 2018
Answer to Question 1

How is labor to be measured? Can it be measured in hours, and if not, how can the labor actually used in production be expressed? How are materials to be measured? How are capital assets, which have different rates of depreciation and input intensity, to be measured?

Answer to Question 2

Estimating a production function for a single plant generally uses time-series analysis, because it is possible to know if technology and other variables have remained constant over time. To estimate a production function for a number of firms in an industry, it is customary to use cross-sectional analysis because it is unlikely that technology and other relevant factors have remained constant for all firms in the industry over time, and cross-sectional analysis removes this problem.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Inhibition and facilitation of spruce during the major successional stages at Glacier Bay, Alaska (d Inhibition and facilitation of spruce during the major successional stages at Glacier Bay, Alaska (d
Teres Major Teres Major
Common phlebotomy issues. Common phlebotomy issues.
Human Modification: Environmental Issues Human Modification: Environmental Issues
Modern Systems Analysis and Design (4th Edition) Modern Systems Analysis and Design (4th Edition)
Four common staining procedures used in chromosomal analysis. Most karyotypes are prepared using G-b Four common staining procedures used in chromosomal analysis. Most karyotypes are prepared using G-b
Video: Elementary kinetics

For a complete list of videos, visit our video library