Labeling Biotech Foods
Whether biotech agricultural products should be labeled has become an issue of contention both within the United States and between the United States and its trading partners.1 Economists tend to argue that labeling and product differentiation of biotech and nonbiotech commodities and food products would expand consumer welfare. Such labeling would increase consumer choice and allow consumers to participate in determining the mix of biotech and nonbiotech products that are produced.
KeywordsSoybean Meal Consumer Surplus Price Premium Consumer Welfare Production Externality
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