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RESERVE PRICE SCHEME AND THE AUCTION SYSTEM
Costs of Operation
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1.0 Selling elasticity amount of wool assumed Assumption Set Australian Wheat Board borrowed buying and selling Buying elasticity 1.0 Code(a constant reserve price Costs of RPA covering costs d/lb depend disposal of stocks elasticity of 1.5 elasticity of demand ESTIMATED GAIN Estimated Trading expense of wool funds GAIN BY GROWERS growers and dealers GROWERS FROM OPERATION higher incurred losses to growers m.lb maximum minimum selling price N.Z. and South operating costs Operation of RPA policy of covering Price at 52d price elasticity private speculation Proportion of RPA's purchases at expense quantity of wool reserve price scheme RPA is selling RPA selling RPA's purchases Selling elasticity 1.0 selling policy selling wool sets of assumptions South Africa stocks on hand stocks sold storage TRADING IN WOOL variable costs volume of sales volume of wool week wool bought Wool Commissions wool for processing Wool Marketing Committee wool sold