Estimation of a Production Function for Philippine Retail Stores

Jason Patalinghug

Economics, 2019, vol. 7, issue 1, 69-79

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.

Keywords: production function; retail industry; Philippines (search for similar items in EconPapers)
JEL-codes: D24 L81 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:econom:v:7:y:2019:i:1:p:69-79:n:6

DOI: 10.2478/eoik-2019-0006

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