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By establishing a dynamic equilibrium model, the paper analyses the equilibrium of the food industry and the equilibrium about the food quality as well as quantity is achieved. Firstly, the study examines the eff ects of competitions on the price, outputs, profi ts and social welfare. Th e authors argue that competition reduces the food quality. Secondly, this paper shows that consumers benefi t from the quality regulation while producers undertake a loss. Moreover, social welfare fi rst increases then decreases with the regulation. Th irdly, the optimal quality regulation is presented and a higher quality regulation reduces competition, while the lower quality regulation promotes it. Finally, the eff ects of fi xed costs on the equilibrium number of fi rms in the corresponding industry are captured.

A general equilibrium analysis of food industry considering the food quality