SUPPLY RESPONSE IN THE AUSTRALIAN SHEEP INDUSTRY: A PROFIT FUNCTION APPROACH

Profit function models for the three major regions in which the Australian sheep industry operates are specified and estimated. The supply response elasticity estimates are made using a normalised quadratic functional form and time series cross-sectional data. Elasticity estimates, together with their confidence intervals, are presented for the pastoral, wheat-sheep and high rainfall zones. In general, the supply response elasticity estimates derived in this study are lower than those previously reported for studies in which little or no account has been taken of the multi-product nature of Australian agriculture.


Issue Date:
1990-08
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/22445
Published in:
Australian Journal of Agricultural Economics, Volume 34, Number 2
Page range:
147-166
Total Pages:
20




 Record created 2017-04-01, last modified 2017-08-24

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