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Optimum Resource Allocation: Estimates For Fresh-Milk Producers In Natal

Author

Listed:
  • Gordijn, R. J.
  • Ortmann, G. F.

Abstract

The allocation of some of the more important inputs in the production of fresh milk in three regions of Natal is assessed with the use of production functions. The marginal rate of substitution criteria is used to establish least cost combinations of concentrates and pastures in East Griqualand and in the Natal Midlands, and concentrates and forages in the Ixopo area. Estimates of profit-maximizing combinations of inputs are also presented for the three regions. The results indicate that fresh-milk farmers need to reassess their combinations of inputs to improve profits.

Suggested Citation

  • Gordijn, R. J. & Ortmann, G. F., 1988. "Optimum Resource Allocation: Estimates For Fresh-Milk Producers In Natal," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 27(01), February.
    • Handle: RePEc:ags:agreko:267173
    DOI: 10.22004/ag.econ.267173
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