Applicability of Cobb-Douglas Economic Model on Longline Culture of Mussel Perna viridis (Linnaes, 1758) In Samar , Philippines
Keywords:
Cobb-Douglas Economic Model, Longline Culture, Mussel (Perna viridis)Abstract
This study's general objective was to determine the applicability of Cobb-Douglas Economic Model on Logline Culture of Mussels in Catbalogan City, Jiabong, Tarangnan, and Villareal, Samar, Philippines. The profitability model of traditional (stake and wigwam) and long line culture methods were considered in this study based on data collected in the different pre-identified areas where mussels are grown in the municipalities of Samar, Philippines. Focused-group discussion (FGD), one on one interview, and ethno survey were conducted. This includes field visits and site observation in collecting data. The multiple regression equation implies that increasing most factors would result in a higher mussed seed production apart from the brood-stock size and the mussel bed's age. Further increasing such positively correlated variables and decreasing negatively correlated variables by one unit will increase production by 50.49 times. The equation implies that increasing one unit of all the variables except the mussel bed's age will increase production by 5.23 times, which is very significant. The coefficient of determination was computed as 99.28 percent, which means that the combination of the variables is very highly correlated to mussels' production in the data gathered. Analysis of variance revealed that fitting all the model variables produces a significant correlation to the yield (kg) of mussel production. The Cobb-Douglas model is applicable in describing long line culture for mussel production in Samar, Philippines. The long line culture method has a higher NPV than the stake/wigwam method. With the long line culture system, the country need not worry that coastal areas will become shallow and cause the loss of culture sites – threats posed by the old stake method.
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