ECONOMIC THEORY AND SHEEP-CATTLE COMBINATIONS
This paper deals with the problem of determining the optimum combination of sheep and beef cattle on grazing properties. A major difficulty is that iso-cost functions (production possibility curves) for sheep and cattle are unstable and difficult to estimate because of sheep-cattle-pasture interaction. After discussion of theoretical difficulties consideration is given to practical approaches, based on the iso-cost function concept, which might provide graziers with useful guide-lines. Evidence is presented which suggests that the substitution rate between sheep and cattle with respect to pasture is not constant, and probably varies with stocking rate.
Year of publication: |
1973
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Authors: | Wills, Ian R. ; Lloyd, Alan G. |
Published in: |
Australian Journal of Agricultural Economics. - Australian Agricultural and Resource Economics Society - AARES. - Vol. 17.1973, 01
|
Publisher: |
Australian Agricultural and Resource Economics Society - AARES |
Keywords: | Livestock Production/Industries |
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