This is a paper to understand the economic effects of the measurement standards by translog cost function. The data, as of the end of 1998, are from a survey of 514 firms in Korean industry. The analysis is compared to that of 1992 data analysis to check the trend. There are a little differences on the estimated coefficients, but there is no basic difference on trend of economic effects. The Investment on measurement standards have been contributed positively on the major managerial indicators such as productivity, profit, and so on.