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Estimasi Fungsi dan Biaya Produksi Industri Sepatu PT. "X"
Then, Ngim Fu
Article from Bulletin/Magazine
Jurnal Manajemen Prasetiya Mulya vol. II no. 4 (1995)
Perpustakaan Pusat (Semanggi)
1 (dapat dipinjam: 0)
Lihat Detail Induk
This study concerns the estimation of the scale of production and economics of scale at PT "X". An appropriate pricing policy on output and long - run investment decisions as well as the relationships between output and input have long been the interests of decision makers as well as of academicians. Decision on long - run investments that decision makers should make in a firm is particularly important due to the amount of economics resources to be comitted. Poor investment decisions will affect directly a company's performance as a going concern. Appropriately estimating a long - run average cost function will give useful information to decision makers about decision on future investment. In addition, the estimates of a short - run average cost function will help PT "X" on applying a sound pricing policy. Estimation on company's production function will help the management to understand the relationships between output and input. Understanding such relationships will help decision makers to produce output in the most favorable ways. Both long and short - run cost function as well as a production function are estimated after the problems of heteroskedasticity associated with cross sectional data are corrected. The results suggest that a weak increasing return to scale on production function of PT "X" do occur. It suggests that if PT "X" decides to double all input at the same time then output will increase more than double. On the other hand, the estimation results of the cost functions suggest that the rate of growth in production cost is larger than the rate of growth in output due to diseconomics of scale. We also found that the relationship between material used and labor to some extent is fixed or follows some linear proportion. Therefore, mathematical programming may be a more appropriate way to estimate the production function, compared to econometrics. The reader should be aware of those weaknesses mentioned above when interpreting the result of this study.
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