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Abstract
This paper examined the relationship between farm characteristics and perceived sources
of competitive advantage, and cost-based and revenue-based efficiency indices. Gross farm
income and the percentage of labor devoted to crop production were significant and positively
correlated with cost and revenue efficiency while the perception of the cowherd being the most
important part of the operation was negatively correlated with efficiency. In general, perceived
sources of competitive advantage were not significantly correlated with cost or revenue
efficiency.