ECONOMIC THEORY AND SHEEP-CATTLE COMBINATIONS

Ian R. Wills and Alan G. Lloyd

Australian Journal of Agricultural Economics, 1973, vol. 17, issue 01, 10

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.

Keywords: Livestock; Production/Industries (search for similar items in EconPapers)
Date: 1973
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ajaeau:22884

DOI: 10.22004/ag.econ.22884

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