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amount of trade assumptions Australia Ltd AUSTRALIA-NEW ZEALAND ECONOMIC Australia-New Zealand trade Australian Broadcasting Commission Australian dairying industry Australian exports Australian industries balance of payments balance of trade British Preferential Tariff butter and cheese commodities competition consumption effect costs of adjustment costs of free costs of production dairy produce economic welfare effect of free estimate of trade exchange depreciation exchange rate exports of manufactured exports to Australia external imbalance favour free trade area gains and costs import controls income redistribution increase labour less Managing Director margin of preference NZŁ20 millions Ottawa Agreement output price of dairy problem Professor protective tariff protective trade policy relative result of free secondary industries structure of production trade creation trade diversion trade were established tralia union partner United Kingdom University of Adelaide University of Melbourne Zealand balance Zealand British Preferential Zealand economic union Zealand exports Zealand free trade Zealand industries Zealand manufacturing Zealand tariff