The Determination of Technology and Commodity Policy in the US Dairy Industry
Chapter
Abstract
United States dairy policy includes both predatory and productive components. The milk price support program is designed to transfer income to dairy farmers while research and extension expenditures are designed to increase social welfare. The purpose of this chapter is to provide an empirical example of the theory developed in Chapter 4.
Keywords
Dairy Industry Supply Curve Price Support Agric Econ Milk Supply
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