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Regional Gains and Losses for Consumers and Producers from Changes in Fluid Milk Prices

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  • Blakley, Leo V.
  • Riley, John B.

Abstract

Equilibrium in a free market can result in prices and quantities which maximize society welfare for a given resource distribution. Departures from equilibrium of the competitive model will involve changes in net social gains and losses not only for the national economy as an aggregate, but also for particular groups or regions. The trade-offs between groups or regions, in fact, may be much larger than the aggregate changes averaged over all groups.Departures from equilibrium under restricted pricing conditions, such as exist with the federal order marketing system in the fluid milk industry, also will involve social gains and losses on national, regional, and local levels. Given the rapid decline in Grade B or manufacturing grade milk production, the concern about equity, and the evolution of new institutions in the milk market, conditions affecting equilibrium in the fluid milk industry also must change. The nature of these changes can have marked effects on the benefits received by the participants in the industry.

Suggested Citation

  • Blakley, Leo V. & Riley, John B., 1974. "Regional Gains and Losses for Consumers and Producers from Changes in Fluid Milk Prices," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 6(2), pages 1-8, December.
    • Handle: RePEc:cup:jagaec:v:6:y:1974:i:02:p:1-8_01
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    Cited by:

    1. Dahlgran, Roger A., 1981. "Dairy Marketing And Policy Analysis: A Critical Review Of Recent Empirical Studies," Department of Economics and Business - Archive 259651, North Carolina State University, Department of Economics.
    2. Johnson, Marc A., 1981. "Current And Developing Issues In Interregional Competition And Agricultural Transportation," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 13(1), pages 1-10, July.
    3. Whipple, Glen D., 1982. "Social Costs Of The Dairy Price Support Program," 1982 Annual Meeting, August 1-4, Logan, Utah 279139, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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