Thesis, Undergraduate (BS Agribusiness Economics)-University of the Philippines, Mindanao

Cobb-Douglas production function model and Value of Marginal Product (VMP) were used to test the technical and economic efficiency of the milkfish industry.These were estimated using primary data from marine and brackishwater production systems.Three models were analyzed; aggregate, marine and brackishwater. The resulting linear regression models in aggregate and brackishwater showed that fingerlings, feeds, and a dummy variable (farmers using marine production system) have significant linear relationship with production and fingerlings, feeds, hectarage of pond, and labor showed significant linear relationships respectively. The resulting log-linear regression model in marine production system showed that fingerlings, feeds, and depth showed significant relationship with production. Moreover, the value of marginal product (VMP) for fingerlings and feeds under brackishwater production system is economically efficient compared to marine production system that is economically efficient to fingerlings only. Marine setting has a potential in increasing the production of milkfish. Also, government interventions can increase the production of milkfish industry especially for brackishwater production system.