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A production investment decision model of farm firm growth

A production investment decision model of farm firm growth

Am. J. agric. Econ., Urbana, Ill 51(3): 546-63

DOI: 10.2307/1237908

This article presents a farm firm growth model which includes both investment and production decisions. The results obtained in the application of the model to a hypothetical central Indiana farm under alternative resource availability and optimizing criteria assumptions are reviewed. These applications demonstrate the interaction between investment and production decisions in the growth process and indicate that under realistic conditions optimal firm growth is not scale growth.

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