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Milk Demand, Supply, and Price Relationships, 1950–1968
Author(s) -
Prato Anthony A.
Publication year - 1973
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1238441
Subject(s) - economics , supply and demand , consumer demand , production (economics) , agricultural economics , microeconomics , milk production , cow milk , econometrics , zoology , food science , chemistry , biology
Demand supply, and price relationships in the dairy sector were measured for the 1950–1968 period by two‐stage least squares. Actual cow numbers adjusted more quickly to desired levels than production per cow. Own price elasticities of milk supply and consumer demands for fluid and manufactured milk were not statistically significant.