In the production and marketing decisions of a cow-calf producer breeding herd investments and land acquisitions are primary. A static model could assume either fixed or infinitely variable breeding herd and land assets in the short-run or long-run respectively. Actually, the assets of a producer are neither completely fixed nor Infinitely variable, but must change over time.
Hertzler, Greg, "Dynamic Decisions For The Cow-Calf Producer" (1983). Economic Staff Paper Series. 52.
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