Tag Archives: byproduct

Byproduct Price Discovery in the Absence of Demand – Real Adventures in Economics

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Agricultural byproducts are not produced on demand.  The quantity of byproduct production is based on the demand for the higher valued commodity or product.  This is not news.  But it seems forgotten in the passionate discussions of waste cooking oils … Continue reading →

Technology Describes Outputs as a Function of Inputs

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My career has been defined as y = f(x). Technology, and in this case, Outputs, y, are (created from,=,) a function of, f(), inputs, x.  In other words, how inputs are combined determines the technology.  Corn can be grown with … Continue reading →