<abstract xmlns="http://www.w3.org/1999/xhtml"><p>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.</p></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.

Estimation of a Production Function for Philippine Retail Stores

ECONOMICS

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

{"article-title":"Estimation of a Production Function for Philippine Retail Stores"}

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...

Estimation of a Production Function for Philippine Retail Stores

Online veröffentlicht: 04. Juli 2019

Seitenbereich: 69 - 79

Eingereicht: 21. März 2019

Akzeptiert: 03. Apr. 2019

DOI: https://doi.org/10.2478/eoik-2019-0006

Schlüsselwörter
production function, retail industry, Philippines

© 2019 Jason C. Patalinghug, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Estimation of a Production Function for Philippine Retail Stores

Online veröffentlicht: 04. Juli 2019

Seitenbereich: 69 - 79

Eingereicht: 21. März 2019

Akzeptiert: 03. Apr. 2019

DOI: https://doi.org/10.2478/eoik-2019-0006

Schlüsselwörterproduction function, retail industry, Philippines

© 2019 Jason C. Patalinghug, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Schlüsselwörter
production function, retail industry, Philippines