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Short‐Run Output Response in the Western Canadian Cattle Industry
Author(s) -
Horbulyk Theodore M.
Publication year - 1990
Publication title -
canadian journal of agricultural economics/revue canadienne d'agroeconomie
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.505
H-Index - 37
eISSN - 1744-7976
pISSN - 0008-3976
DOI - 10.1111/j.1744-7976.1990.tb03527.x
Subject(s) - short run , economics , econometrics , supply and demand , elasticity (physics) , flexibility (engineering) , price elasticity of demand , work (physics) , microeconomics , monetary economics , engineering , mechanical engineering , materials science , management , composite material
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.