In many analyses of profit maximization, attention is directed to large herds and specialization in milk production. Why then do some farmers persist in keeping small dairy herds even when prices for Grade B milk become quite low? This article shows that even with relatively low prices for milk...

Prediction in production economics helps individuals and groups to make choices among the uses of resources. Prediction is usually mad by using a sample drawn from a population in which the variables quantities, or parameters to be estimated are already in existence. But in many situations with...

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Traditional input-output analysis is used to determine indirect and induced benefits resulting from spending on a particular projects. Emphasis has been on positive impacts to the economy in question, usually ignoring the related costs of paying for the project. Input-output was used in this...

THIS PAPER DESCRIBES A METHOD FOR INCORPORATING EXOGENOUS PRICE CHANGES INTO INPUT-OUTPUT ANALYSIS AND THEREBY ESTIMATING THEIR IMPACT ON A REGIONAL ECONOMY. THE EMPIRICAL RESULTS DEMONSTRATE THAT WHEN THE PRICES OF WHEAT, ELECTRICITY, PETROLEUM, AND NATURAL GAS ARE INCREASED BY EXOGENOUS...

Most agriculture in the Sahel Region is carried out under rainfed conditions where low and uncertain soil moisture levels limit productivity. Improved soil, water and crop management practices are required to reverse the steady decline in per capita food production and sustain output over the...