Lusk, Jayson L.; Norwood, F. Bailey - In: Journal of Agricultural and Applied Economics 37 (2005) 03
The effects of various supply and demand shifts on beef price, quantity, and industry welfare have been widely studied … under the assumption of beef quality homogeneity. In this paper, we construct a model of the beef sector that incorporates … differences in beef quality. The model is used to analyze the effect of supply and demand shifts on changes in prices and …