Table 2.

Output price, input prices, and corresponding elasticity parameters of cannabis farming

	Pricea (dollars)	Input elasticity of substitution parametere
Output (oz)	121.250b	N/A
Labor (per sf)	30.362c	− 0.245
Electricity (per sf)	19.035	− 1.963
Other inputsd (per sf)	18.554	− 1.444

Input prices are based on the one year production level of the 1500 sf indoor facility (Hawken and Prieger 2013)

^aInput prices are based on the cost per square foot

^bThe average 2020 cannabis wholesale market price per ounce (source: Branfalt (2020) and Leaflink Insights (2020))

^cIncludes general agricultural work, trimming, and management labor cost

^dThe average cost of water, soil, CO₂, nutrients, pesticide, and rent

^eSource: Schumacher and Marsh (2003)