ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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A Very Special Group of People-A Comment

causal relationship between these two variables. According to the author, equation 5.2 is the best both on grounds of theory and statistical inference. We, however, feel that it is not possible to interpret the positive constant term in this equation. For, one expects the constant term to be negative in this type of formulation which indicates that, unless the production is above a threshold level, marketed surplus cannot be positive. Hence, equation 5.3 appears to be the best one although it does not contain a price term.

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