This paper extends the basic results of Houck’s insight for derived demand elasticities for the case of joint products by allowing for the possibility of the joint and raw products being traded. Theoretical relationships between individual demands for a set of jointly-produced commodities that...

Differences among firms in a competitive industry can affect the shape of the industry supply curve. It is necessary to know how both production costs and rents are affected by research. Industry response to research will be different depending upon whether entry occurs. If the effect of entry...