Price Elasticities and Joint Products

James P. Houck

American Journal of Agricultural Economics, 1964, vol. 46, issue 3, 652-656

Abstract: The price elasticity of a commodity from which two or more joint products are obtained in fixed proportions is, in general, a weighted harmonic average of the price elasticities of the joint products. The weights are the proportions of the basic commodity's total value attributable to sales of each joint product. When marketing and processing margins are considered, the relationships among the elasticities of the joint products and the basic commodity are consistent with the traditional theory of derived demand. These relationships may be useful to price analysts and commodity specialists interested in joint product problems.

Date: 1964
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