This study develops a new use of data envelopment analysis for estimating a stochastic frontier cost function that is assumed to have two different error components ...

Journal of Political Economy, Vol. 79, No. 3 (May - Jun., 1971), pp. 481-507 (27 pages) The paper indicates how the Shephard duality theorem may be utilized in order to obtain a system of derived ...

Marginal cost refers to the change in total cost arising from the production of one additional unit. For example, in a manufacturing firm, the marginal cost will give a measure of the change in total ...

Alexandra Twin has 15+ years of experience as an editor and writer, covering financial news for public and private companies. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor ...