Pecans Extra Credit

Pecans Extra Credit - AGRICULTURAL ECONOMICS 2317 Pecan...

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AGRICULTURAL ECONOMICS – 2317 Pecan Production and Price Trends 1979-1995 Extra Credit Summary Jason S. Price 2/25/2008
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A summary of Pecan Production and Prices from 1979-1995, authored by Carl E. Shafer, faculty member of Texas A&M’s Agricultural Economics department.
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“The pecan is the Texas state tree, being native to about 150 counties and capable of growing and producing in all Texas counties. The tree is popular for landscaping and as a source of nuts” (Lipe, Stein, McEachern, Begnaud, Helmers). So more than likely if you have lived in Texas you’ve had the opportunity to taste one of these tasty little morsels. Pecans can be baked into pies, churned into ice cream, and made into delicious pralines; the list goes on and on, making the pecan a truly practical nut. I grew up with massive pecan trees in my backyard and pecan pie on Sundays, so naturally I was drawn to this article “Pecan Production and Prices”. “The demand for most agricultural products at the farm level is generally believed to be inelastic. An increase in supply would mean a decrease in total revenue to producers as a whole,” better known as Ceteris Paribus Prior to the 1970’s many agricultural economists found this to be true about pecans but studies done later by Shafer and colleagues found that “pecans actually appear to be elastic”; greater than expected price flexibility (Shafer & Hertel). There are many variables
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This note was uploaded on 04/13/2008 for the course AGEC 2317 taught by Professor Estes during the Spring '08 term at Blinn College.

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Pecans Extra Credit - AGRICULTURAL ECONOMICS 2317 Pecan...

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