Comparison of Resource Returns of Well-Organized Iowa farms with Selected Nonfarm Opportunities, March 1961

(1961) Comparison of Resource Returns of Well-Organized Iowa farms with Selected Nonfarm Opportunities, March 1961. Iowa State University

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Abstract

The primary objective of this study was to determine whether the evidence on factor incomes and factor opportunity costs for well-organized Iowa farms supports the hypothesis of an imbalance in the level of output of Corn Belt products. This presented four subsidiary problems: (1) identifying and selecting a group of well-organized farms, (2) determining the level and pattern of market clearing prices, (3) estimating factor incomes on the selected farms and (4) estimating the factor opportunity costs of the resources employed on these units.