Estimating the Profit Cost Functions, Economic and Technical Efficiencies of Corn Production in Babylon Province in Iraq

Osamah K. Al-Mansi; Zahra H. Mahmood; Nada K. Abbas

doi:doi:10.11648/j.ijaas.20150103.14

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Estimating the Profit Cost Functions, Economic and Technical Efficiencies of Corn Production in Babylon Province in Iraq

Osamah K. Al-Mansi, Zahra H. Mahmood, Nada K. Abbas

Received: 13 June 2015 Accepted: 14 July 2015 Published: 29 July 2015

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Abstract

The study aimed to estimate the profit and cost functions as well as the economic, price and cost efficiencies of local and hybrid varieties of corn. A random sample of 80 corn farms in Babylon province were selected during the agricultural season 2013. From efficiency scales of profit functions, it was shown that the production size had the greatest impact on the profit of both local and hybrid seeds compared with the other price variables and average production costs. According to the cost functions, the optimal cost-minimizing production sizes were 40.7 ton and 47.77 ton for local and hybrid seeds respectively; while the technical efficiency, economic efficiency, price efficiency and cost efficiency for these seeds were respectively 20.996% and 49.88% ; 20.996% and 49.88% ; 22.34% and 38.74; and 0.49 and 0.59. From these results it can be concluded that employed economic resources in the production process were not optimally exploited which resulted in a reduction in technical efficiencies for both varieties of seeds. The study recommended to follow production policy aiming to increase the economic efficiency and achieve the optimal usage of available resources

DOI	10.11648/j.ijaas.20150103.14
Published in	International Journal of Applied Agricultural Sciences (Volume 1, Issue 3, September 2015)
Page(s)	66-73
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Profit Function, Cost Function, Technical Efficiency, Economic Efficiency, Cost Efficiency

References

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[11]	Penson, J. B. (1980).Introduction to agricultural economics, prentice Hill. New Jersey pp:124-129.
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Osamah K. Al-Mansi, Zahra H. Mahmood, Nada K. Abbas. (2015). Estimating the Profit Cost Functions, Economic and Technical Efficiencies of Corn Production in Babylon Province in Iraq. International Journal of Applied Agricultural Sciences, 1(3), 66-73. https://doi.org/10.11648/j.ijaas.20150103.14

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ACS Style

Osamah K. Al-Mansi; Zahra H. Mahmood; Nada K. Abbas. Estimating the Profit Cost Functions, Economic and Technical Efficiencies of Corn Production in Babylon Province in Iraq. Int. J. Appl. Agric. Sci. 2015, 1(3), 66-73. doi: 10.11648/j.ijaas.20150103.14

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AMA Style

Osamah K. Al-Mansi, Zahra H. Mahmood, Nada K. Abbas. Estimating the Profit Cost Functions, Economic and Technical Efficiencies of Corn Production in Babylon Province in Iraq. Int J Appl Agric Sci. 2015;1(3):66-73. doi: 10.11648/j.ijaas.20150103.14

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@article{10.11648/j.ijaas.20150103.14,
  author = {Osamah K. Al-Mansi and Zahra H. Mahmood and Nada K. Abbas},
  title = {Estimating the Profit Cost Functions, Economic and Technical Efficiencies of Corn Production in Babylon Province in Iraq},
  journal = {International Journal of Applied Agricultural Sciences},
  volume = {1},
  number = {3},
  pages = {66-73},
  doi = {10.11648/j.ijaas.20150103.14},
  url = {https://doi.org/10.11648/j.ijaas.20150103.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijaas.20150103.14},
  abstract = {The study aimed to estimate the profit and cost functions as well as the economic, price and cost efficiencies of local and hybrid varieties of corn. A random sample of 80 corn farms in Babylon province were selected during the agricultural season 2013. From efficiency scales of profit functions, it was shown that the production size had the greatest impact on the profit of both local and hybrid seeds compared with the other price variables and average production costs. According to the cost functions, the optimal cost-minimizing production sizes were 40.7 ton and 47.77 ton for local and hybrid seeds respectively; while the technical efficiency, economic efficiency, price efficiency and cost efficiency for these seeds were respectively 20.996% and 49.88% ; 20.996% and 49.88% ; 22.34% and 38.74; and 0.49 and 0.59. From these results it can be concluded that employed economic resources in the production process were not optimally exploited which resulted in a reduction in technical efficiencies for both varieties of seeds. The study recommended to follow production policy aiming to increase the economic efficiency and achieve the optimal usage of available resources},
 year = {2015}
}

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TY  - JOUR
T1  - Estimating the Profit Cost Functions, Economic and Technical Efficiencies of Corn Production in Babylon Province in Iraq
AU  - Osamah K. Al-Mansi
AU  - Zahra H. Mahmood
AU  - Nada K. Abbas
Y1  - 2015/07/29
PY  - 2015
N1  - https://doi.org/10.11648/j.ijaas.20150103.14
DO  - 10.11648/j.ijaas.20150103.14
T2  - International Journal of Applied Agricultural Sciences
JF  - International Journal of Applied Agricultural Sciences
JO  - International Journal of Applied Agricultural Sciences
SP  - 66
EP  - 73
PB  - Science Publishing Group
SN  - 2469-7885
UR  - https://doi.org/10.11648/j.ijaas.20150103.14
AB  - The study aimed to estimate the profit and cost functions as well as the economic, price and cost efficiencies of local and hybrid varieties of corn. A random sample of 80 corn farms in Babylon province were selected during the agricultural season 2013. From efficiency scales of profit functions, it was shown that the production size had the greatest impact on the profit of both local and hybrid seeds compared with the other price variables and average production costs. According to the cost functions, the optimal cost-minimizing production sizes were 40.7 ton and 47.77 ton for local and hybrid seeds respectively; while the technical efficiency, economic efficiency, price efficiency and cost efficiency for these seeds were respectively 20.996% and 49.88% ; 20.996% and 49.88% ; 22.34% and 38.74; and 0.49 and 0.59. From these results it can be concluded that employed economic resources in the production process were not optimally exploited which resulted in a reduction in technical efficiencies for both varieties of seeds. The study recommended to follow production policy aiming to increase the economic efficiency and achieve the optimal usage of available resources
VL  - 1
IS  - 3
ER  -

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Author Information

Osamah K. Al-Mansi

Department of Agricultural Economics, College of Agriculture, University of Baghdad ,Baghdad, Iraq
Zahra H. Mahmood

Department of Agricultural Economics, College of Agriculture, University of Baghdad ,Baghdad, Iraq
Nada K. Abbas

Department of Agricultural Economics, College of Agriculture, University of Baghdad ,Baghdad, Iraq

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Osamah K. Al-Mansi, Zahra H. Mahmood, Nada K. Abbas. (2015). Estimating the Profit Cost Functions, Economic and Technical Efficiencies of Corn Production in Babylon Province in Iraq. International Journal of Applied Agricultural Sciences, 1(3), 66-73. https://doi.org/10.11648/j.ijaas.20150103.14

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ACS Style

Osamah K. Al-Mansi; Zahra H. Mahmood; Nada K. Abbas. Estimating the Profit Cost Functions, Economic and Technical Efficiencies of Corn Production in Babylon Province in Iraq. Int. J. Appl. Agric. Sci. 2015, 1(3), 66-73. doi: 10.11648/j.ijaas.20150103.14

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AMA Style

Osamah K. Al-Mansi, Zahra H. Mahmood, Nada K. Abbas. Estimating the Profit Cost Functions, Economic and Technical Efficiencies of Corn Production in Babylon Province in Iraq. Int J Appl Agric Sci. 2015;1(3):66-73. doi: 10.11648/j.ijaas.20150103.14

Copy | Download

@article{10.11648/j.ijaas.20150103.14,
  author = {Osamah K. Al-Mansi and Zahra H. Mahmood and Nada K. Abbas},
  title = {Estimating the Profit Cost Functions, Economic and Technical Efficiencies of Corn Production in Babylon Province in Iraq},
  journal = {International Journal of Applied Agricultural Sciences},
  volume = {1},
  number = {3},
  pages = {66-73},
  doi = {10.11648/j.ijaas.20150103.14},
  url = {https://doi.org/10.11648/j.ijaas.20150103.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijaas.20150103.14},
  abstract = {The study aimed to estimate the profit and cost functions as well as the economic, price and cost efficiencies of local and hybrid varieties of corn. A random sample of 80 corn farms in Babylon province were selected during the agricultural season 2013. From efficiency scales of profit functions, it was shown that the production size had the greatest impact on the profit of both local and hybrid seeds compared with the other price variables and average production costs. According to the cost functions, the optimal cost-minimizing production sizes were 40.7 ton and 47.77 ton for local and hybrid seeds respectively; while the technical efficiency, economic efficiency, price efficiency and cost efficiency for these seeds were respectively 20.996% and 49.88% ; 20.996% and 49.88% ; 22.34% and 38.74; and 0.49 and 0.59. From these results it can be concluded that employed economic resources in the production process were not optimally exploited which resulted in a reduction in technical efficiencies for both varieties of seeds. The study recommended to follow production policy aiming to increase the economic efficiency and achieve the optimal usage of available resources},
 year = {2015}
}

Copy | Download

TY  - JOUR
T1  - Estimating the Profit Cost Functions, Economic and Technical Efficiencies of Corn Production in Babylon Province in Iraq
AU  - Osamah K. Al-Mansi
AU  - Zahra H. Mahmood
AU  - Nada K. Abbas
Y1  - 2015/07/29
PY  - 2015
N1  - https://doi.org/10.11648/j.ijaas.20150103.14
DO  - 10.11648/j.ijaas.20150103.14
T2  - International Journal of Applied Agricultural Sciences
JF  - International Journal of Applied Agricultural Sciences
JO  - International Journal of Applied Agricultural Sciences
SP  - 66
EP  - 73
PB  - Science Publishing Group
SN  - 2469-7885
UR  - https://doi.org/10.11648/j.ijaas.20150103.14
AB  - The study aimed to estimate the profit and cost functions as well as the economic, price and cost efficiencies of local and hybrid varieties of corn. A random sample of 80 corn farms in Babylon province were selected during the agricultural season 2013. From efficiency scales of profit functions, it was shown that the production size had the greatest impact on the profit of both local and hybrid seeds compared with the other price variables and average production costs. According to the cost functions, the optimal cost-minimizing production sizes were 40.7 ton and 47.77 ton for local and hybrid seeds respectively; while the technical efficiency, economic efficiency, price efficiency and cost efficiency for these seeds were respectively 20.996% and 49.88% ; 20.996% and 49.88% ; 22.34% and 38.74; and 0.49 and 0.59. From these results it can be concluded that employed economic resources in the production process were not optimally exploited which resulted in a reduction in technical efficiencies for both varieties of seeds. The study recommended to follow production policy aiming to increase the economic efficiency and achieve the optimal usage of available resources
VL  - 1
IS  - 3
ER  -

Copy | Download