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Supply and Demand Functions for Multiproduct U.S. Cash Grain Farms: Biases Caused by Research and Other Policies
Author(s) -
Huffman Wallace E.,
Evenson Robert E.
Publication year - 1989
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1242032
Subject(s) - cash crop , economics , cash , agricultural economics , supply and demand , production (economics) , microeconomics , macroeconomics
Abstract This study presents new estimates of supply and demand elasticities for U.S. multiproduct cash grain farms and estimates of input and output bias effects caused by public and private crop research, extension, and farmers' schooling. The study also shows that the social rate of return to public crop research is large—about 62 percent.