A SUPPLY FUNCTION FOR DAIRY PRODUCTS Report as inadecuate




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Results of an investigation into factors affecting the aggregate supply of dairy products in Australia are presented. Empirical estimates of the parameters of the supply function, using ordinary least squares, indicate that some concept of average prices for dairy products is a more important determinant of supply than ratios of prices of dairy products relative to prices of production substitutes such as beef cattle or sheep and lambs. The empirical results also indicate that the quota-type effects of the various metropolitan fluid milk schemes are important in determining supply. Effects of new technology on supply could not be quantified due to intercorrelation of explanatory variables.

Subject(s): Demand and Price Analysis

Issue Date: 1972-12

Publication Type: Journal Article

PURL Identifier: http://purl.umn.edu/23019 Published in: Australian Journal of Agricultural Economics, Volume 16, Number 3 Page range: 195-203

Total Pages: 9

Record appears in: Australian Agricultural and Resource Economics Society (AARES) > Australian Journal of Agricultural Economics





Author: Mules, T.J.

Source: http://ageconsearch.umn.edu/record/23019?ln=en



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