PRICE ELASTICITY OF PRODUCTION IN ROMANIA'S AGRICULTURE- A TERRITORIAL APPROACH BY MICRO-REGION
The paper analyzed price elasticity of production for short run for wheat, maize, sunflower, milk, pork, beef and honey in Romania and in its eight micro-regions in the period 2016-2018. Elasticity coefficients were determined using Cook's formula. At Romania's level, the price growth by 1...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
University of Agricultural Sciences and Veterinary Medicine, Bucharest
2020-01-01
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| Series: | Scientific Papers Series : Management, Economic Engineering in Agriculture and Rural Development |
| Online Access: | https://managementjournal.usamv.ro/pdf/vol.20_1/Art61.pdf |
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| Summary: | The paper analyzed price elasticity of production for short run for wheat, maize, sunflower, milk, pork, beef and honey in Romania and in its eight micro-regions in the period 2016-2018. Elasticity coefficients were determined using Cook's formula. At Romania's level, the price growth by 1 % will determine the increase of output for wheat, maize, milk, and pork, but lower than price growth rate. Considering that other factors of influence are constant, the growth of the acquisition price will favor the increase of production in the territory of Romania as follows: for wheat in NW, SE, Bucharest Ilfov and S W Oltenia micro-regions; for maize in almost all the micro-regions except Bucharest-Ilfov and West; for sunflower in BIF and SW Oltenia; for pork, in the Center, SE, S Muntenia, SW Oltenia and West regions; for beef only in NW and NE regions; for milk in NW and S Muntenia; for honey in the Center, NE, S Muntenia, and SW Oltenia. |
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| ISSN: | 2284-7995 2285-3952 |