Planted wheat acreage supply elasticities are estimated for each of several leading wheat-producing states. Estimates of elasticities for the aggregate of these states are 0.77, 0.45, and 0.52 for spring wheat, winter wheat, and ali wheat, respectively, but there is considerable heterogeneity among states. Acreage allotments and marketing quotas appear to have destroyed the role of prices in allocating acreage between wheat and other crops during the years 1950 and 1954–64. Estimates were obtained using multiple regression analysis of time-series data for the period 1948–74. This period was subdivided in order to take account of changing farm programs.
All Science Journal Classification (ASJC) codes
- Agricultural and Biological Sciences (miscellaneous)
- Economics and Econometrics