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          Volume 18, Number 02, December 1993 >

Please use this identifier to cite or link to this item: http://purl.umn.edu/30958

Title: QUANTIFYING THE EFFECTS OF NEW PRODUCT DEVELOPMENT: THE CASE OF LOW-FAT GROUND BEEF
Authors: Brester, Gary W.
Lhermite, Pascale
Goodwin, Barry K.
Hunt, Melvin C.
Issue Date: 1993-12
Abstract: Low-fat ground beef (LFGB) is a new product designed to be as palatable as beef products that contain significantly higher levels of fat. A hedonic model shows that each unitary increase in the leanness of ground beef products carries a price premium of $.0206/lb. If LFGB garners a 10% share of the ground beef market, the retail price of all ground beef products will increase by $.01/lb. and consumption will increase by 39.75 million lbs. The price of commercial cows will increase by $.56/cwt. Price quantity, and welfare measures are magnified as the market share captured by LFGB increases.
URI: http://purl.umn.edu/30958
Institution/Association: Journal of Agricultural and Resource Economics>Volume 18, Number 02, December 1993
Total Pages: 12
Language: English
From Page: 239
To Page: 250
Collections:Volume 18, Number 02, December 1993

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