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Economic Theory And Sheep-Cattle Combinations

Author

Listed:
  • Wills, Ian R.
  • Lloyd, Alan G.

Abstract

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.

Suggested Citation

  • Wills, Ian R. & Lloyd, Alan G., 1973. "Economic Theory And Sheep-Cattle Combinations," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 17(1), pages 1-10, April.
  • Handle: RePEc:ags:ajaeau:22884
    DOI: 10.22004/ag.econ.22884
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    Keywords

    Livestock Production/Industries;

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