Profit Efficiency In Broiler Production: Evidence From Greater Accra Region Of Ghana
The study examines profit efficiency and its determinants in broiler production in the context of profit maximization as an incentive for optimum production. The study uses the stochastic frontier approach with the application of the Cobb â€“ Douglas profit function. A cross sectional data was obtained from one hundred poultry producers in Greater Accra Region using a multistage sampling method. The results of the study indicated that price of labor significantly reduced profit but the price of day old chick increased profit. The result further revealed that broiler producers were able to realize 54% of their frontier profit on the average. Number of years of experience in broiler production was found to reduce inefficiency whilst farms owned by sole proprietors were less economically efficient. The study recommends that the inputs should be made available to farmers at competitive prices and the quantity of labor use should be declined because the current level is uncompetitive. Training should also be provided to less experienced farmers to enable them adopt the best poultry farming practices.
Volume (Year): 2 (1)
Issue (Month): 1 ()
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- Meeusen, Wim & van den Broeck, Julien, 1977. "Efficiency Estimation from Cobb-Douglas Production Functions with Composed Error," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 18(2), pages 435-44, June.
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Pakistan Institute of Development Economics, vol. 41(4), pages 643-663.
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