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Social Cost of Alternative Dairy Price Support Levels
Author(s) -
Buxton Boyd M.,
Hammond Jerome W.
Publication year - 1974
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 - 10.2307/1238757
Subject(s) - redistribution (election) , government (linguistics) , social cost , price support , economics , public economics , microeconomics , business , philosophy , linguistics , production (economics) , politics , political science , law
Government cost is important in fixing milk price supports; however, net social cost should also be a criteria. This paper develops a method of measuring the latter. The technique is applied to alternative support levels under conditions of exporting or destroying government purchases and under a condition of domestic redistribution.