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Table 6 Input elasticities and ratio of marginal value product to marginal factor cost

From: Resource use efficiency among maize farmers in Ghana

Variable

Elasticity

MPP

MVP

MFC

r

Fertilizer

0.485

3.8

3.7

1.1

3.4

Herbicide

0.177

94.4

91.6

9.5

9.6

Pesticide

0.003

74.4

72.2

10.1

7.1

Seed

0.734

54.1

52.5

2.8

18.7

Labour

0.245

9.8

9.5

12

0.79

Manure

0.045

193

187

0.01

15,558

Land

1.145

1101

1068

30.4

35.2

Capital

0.493

2.43

2.36

12.9

0.18

  1. Source: Survey, 2015
  2. MPP = marginal physical product, MVP = marginal value product, MFC = marginal factor cost, r = efficiency coefficient, scale elasticity = 3.327