Elluminate09-14-11 - AEB 6184 Simulation and Estimation of...

Info icon This preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon
AEB 6184 – Simulation and Estimation of the Primal Elluminate - 6
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Cobb-Douglas Parameters 1 1 1 1 2 2 2 1 2 3 1 1 2 2 3 3 2 3 3 3 3 w w x Y x p pY w w x Y Ax x x w x w x w x x p pY w w x Y x p pY α β γ α α π β β γ γ = = = - - - = = = =
Image of page 2
Fuel Use (Field Operations) Fertilizer Dry Spread 0.15 Nitrogen 91.80 Disk-Chisel 1.70 Phosphorous 36.58 Field Cultivate 0.70 Potash 23.50 Planting 0.40 Spraying 0.10 Combine 1.45 Total Diesel 4.50 Diesel Price 2.64 Total Fuel 11.88 Total Fertilizer 151.88 Field Data for Corn
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Total Costs and Revenues Parameters Total Fuel 11.88 α 0.0195 Total Fertilizer 151.88 β 0.2500 Total Labor 33.06 γ 0.0544 Total Variable Cost 196.82 Diesel (gal.) 4.50 Corn Yield 135.0 Fertilizer (tons) 0.4116 Corn Price 4.50 Labor (hours) 4.15 Total Revenue 607.50 Profit per Acre 410.68 Revenues
Image of page 4
Prices 2007 2008 Corn Price (FL) 4.00 4.50 Corn Price (GA) 4.50 4.60 Fertilizer Price 367 614 Fuel Price (Diesel) 2.639 3.393 Labor Price 7.97 8.91
Image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Cobb-Douglas Function ( 29 ( 29 ( 29 1 2 3 1 2 3 0.0195 0.2500 0.0544 135 151.484 0.8911 151.484 4.50 0.4116 4.15 135 Y Y Ax x x A x x x Y α β γ α β γ = = = = = =
Image of page 6
We need to think about three four prices
Image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 8
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern