Short-Run Output Response in the Western Canadian Cattle Industry |
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Authors: | Theodore M Horbulyk |
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Institution: | Department of Economics The University of Calgary, Calgary, T2N IN4 |
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Abstract: | This paper present the results of recent empirical work on the short-run producetion flexibility of cow-calf producers in Western Canada. Several aspects of firm behaviour may be inferred from the econometric estimates, including short-run elasticities of supply and factor demand, and the total elasticity of cattle supply. The principal empirical findings are that many of the shourt-run supply and factor demand responses of firms, are elastic with respect to within-season price variability. The evidence does not support a vertical or negatively-sloped short-run supply curve for cattle, where one previously has been hypothesized in the theoretical literature. |
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