Agricultural Output Supply and Input Demand Relationships with Endogenous Land Rents

Arlyn R. Maligaya and Fred C. White

Journal of Agricultural and Applied Economics, 1989, vol. 21, issue 2, 13-20

Abstract: This study analyzed supply functions for agricultural output and demand functions for factors of production for Georgia. These relationships were derived with duality theory from a normalized quadratic profit function. Land has been included in other duality studies as a fixed factor as opposed to an endogenous factor. In this study, the system of supply and demand equations was augmented with a supply equation for land, which allowed land rents to be an endogenous factor. Consequently, it was possible to measure the impact of output and input prices on land rents.

Date: 1989
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