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The response of milk production to price


, : The response of milk production to price. J. Farm Econ, Menasha, Wisc., Dec. 40: 5, 1101-1113

The concept of distributed lags is used to estimate the coefficient of adjustment and the short- and long-run elasticities of supply (production) for milk. Separate analyses for the U.S. as a whole were run for the period 1927-57 and 1941-57. Within each period several analyses were run using different factors to test the effect of specification errors on the coefficient of adjustment.

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