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Since a wider range of sizes of machinery for crop production has become available, the problem of selecting the appropriate scale of machinery for a particular farming operation has become more complex. Larger machinery helps to reduce labor costs and can improve yields by allowing crops to be planted and harvested on more nearly optimal dates. Some or all of these benefits, however, may be offset by higher depreciation, interest, and other fixed costs. If yield losses due to untimely field operations are considered as a cost, then the problem of machinery selection can be analyzed with the objective of minimizing total expected machinery costs.
Iowa State University. Agricultural and Home Economics Experiment Station
Edwards, William and Boehlje, Michael, "Farm machinery selection in Iowa under variable weather conditions" (1980). Special Report. 82.