Suppose an individual dairy farmer in northamptonshire, Ask an Expert

Economics

Q. Suppose an individual dairy farmer in Northamptonshire decides that going price for milk is too low. Farmer reasons that a restriction in supply will force market price up. So, instead of selling 100,000 litters of milk this year, farmer plans to dump 80,000 gallons litters down drain and release only 20,000 litters onto market. Explain effects of this strategy.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9306644

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