“…Gross Regional Product (GRP) is a key economic indicator that characterizes the functioning and development (Alferova & Tretyakova, 2018;Drohobytsky, 2004;Kolemaev, 2005;Kleiner, 2012;Sokol et al, 2017) of the regional socio-economic system (RSES). To assess the value of GRP in modeling the functioning of RSES, the apparatus of production functions (PF) is often used (Alferova & Tretyakova, 2018;Drohobytsky, 2004;Kolemaev, 2005;Kleiner, 2012;Sokol & Kutyshkin, 2016;Sokol et al, 2017).…”