Agricultural Product Prices |
Contents
Introduction | 1 |
Principles of Price Determination | 7 |
Demand Elasticities and Related Coefficients | 28 |
Copyright | |
14 other sections not shown
Common terms and phrases
alternative analysis assumed average basis beef behavior bushel buyers cash prices change in price Chapter cobweb model coefficient competitive consumers consumption crop cross elasticities decline decrease deflated demand and supply demand curve demand function dependent variable derived demand determined economic effect elasticity of demand empirical equation equilibrium price estimates example export factors farm prices farm products farmers Figure firms forecast forward contracts futures contracts futures markets futures prices grades grain hedging hence important income effect increase index numbers inelastic influence input inventories lagged marginal cost marginal revenue marketing margin modities option output P₁ period pork premium price changes price elasticity product prices programs purchase put option ratio regions relative result retail price seasonal sell sellers shifts short run slope soybean specific speculative statistical storage strike price substitutes substitution effect supply curve supply function tion total revenue trade transfer costs United USDA wheat zero