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Economics of Agricultural Marketing pdf book

Book Detail:   Economics of Agricultural Marketing



Language: English

Pages: 58

Author:

Price: FREE 


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   DOWNLOD  --Economics of Agricultural Marketing

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Introduction to Agricultural Marketing 11

1.1 Typical issues and where to find answers . . . . . . . . . . . . . . . . . . . 11
1.2 What is “marketing?” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
1.2.1 Facets of marketing . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
1.2.2 Facilitating functions of a market . . . . . . . . . . . . . . . . . . . 13
1.3 What’s special about agricultural markets? . . . . . . . . . . . . . . . . . . 13
1.3.1 Role of prices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
1.4 Trends in U.S. Agricultural Markets . . . . . . . . . . . . . . . . . . . . . . 15
2 Basics of Supply and Demand 16
2.1 Demand . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
2.1.1 Properties of a demand curve . . . . . . . . . . . . . . . . . . . . . 17
2.1.2 Numerically solving for quantity demanded and price . . . . . . . . 17
2.2 Aggregate Demand . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
2.2.1 Numerically aggregating demand . . . . . . . . . . . . . . . . . . . 19
2.2.2 Properties of aggregate demand . . . . . . . . . . . . . . . . . . . . 19
2.2.3 Consumer surplus . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
2.3 Supply . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
2.3.1 Properties of supply . . . . . . . . . . . . . . . . . . . . . . . . . . 23
2.3.2 What changes supply? . . . . . . . . . . . . . . . . . . . . . . . . . 23
2.4 Aggregate Supply . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
2.4.1 Producer surplus and Producer cost . . . . . . . . . . . . . . . . . . 24
2.5 Equilibrium . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
2.5.1 What do S and D models tell us? . . . . . . . . . . . . . . . . . . . 26
2.5.2 What do prices indicate? . . . . . . . . . . . . . . . . . . . . . . . . 27
2.5.3 Practice problems . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
2.6 Solving for Equilibrium . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
2.6.1 Practice problems: solving for equilibrium . . . . . . . . . . . . . . 32
3 Elasticities and flexibilities 37

3.1 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
3.1.1 Basic example . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
3.2 Properties of Demand Elasticities . . . . . . . . . . . . . . . . . . . . . . . 39
3.3 Properties of Demand Flexibilities . . . . . . . . . . . . . . . . . . . . . . . 40
3.4 Analyzing more complex relationships . . . . . . . . . . . . . . . . . . . . . 40
3.4.1 How do we find demand elasticities? . . . . . . . . . . . . . . . . . 41
3.5 Properties of Cross-Price Elasticities of Demand . . . . . . . . . . . . . . . 42
3.6 Price Elasticities of Demand in Agricultural Markets . . . . . . . . . . . . 43
3.7 Elasticities of Supply . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43
3.7.1 Properties of supply elasticities . . . . . . . . . . . . . . . . . . . . 43
3.7.2 Solving for elasticities of supply . . . . . . . . . . . . . . . . . . . . 44
4 Equilibrium Displacement Models 46
4.1 Single Commodity EDM Analysis . . . . . . . . . . . . . . . . . . . . . . . 46
4.1.1 Example . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49
4.1.2 Additional practice . . . . . . . . . . . . . . . . . . . . . . . . . . . 50
4.2 General Equilibrium Displacement Models – GEDM . . . . . . . . . . . . . 52
4.2.1 For example . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52
4.2.2 Problem setup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53
4.2.3 Additional problems . . . . . . . . . . . . . . . . . . . . . . . . . . 55
5 Food Marketing Channel 58
5.1 Understanding the food marketing channel – Derived Demand . . . . . . . 60
5.2 Scenario Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
5.2.1 Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
5.2.2 Additional problems – DD Graphical Analysis . . . . . . . . . . . . 66
5.3 Derived Demand – Numerical Analysis . . . . . . . . . . . . . . . . . . . . 70
5.3.1 DD Numerical Example . . . . . . . . . . . . . . . . . . . . . . . . 70
5.3.2 Additional problems – Deriving demand numerically . . . . . . . . 71
6 Spatial Concepts in Agricultural Markets 73
6.0.3 Economies of Scale . . . . . . . . . . . . . . . . . . . . . . . . . . . 74
6.1 One-dimensional spatial model . . . . . . . . . . . . . . . . . . . . . . . . . 74
6.1.1 Scenario Analysis – One-dimensional transport models . . . . . . . 76
6.1.2 Additional problems – 2D transport models . . . . . . . . . . . . . 77
6.2 Overlapping production regions . . . . . . . . . . . . . . . . . . . . . . . . 77
6.2.1 Addition problems – 2D overlapping transport models . . . . . . . . 78
7 Inter-regional Trade 80
7.1 Deriving the excess demand curve . . . . . . . . . . . . . . . . . . . . . . . 81
7.2 Deriving the excess supply curve . . . . . . . . . . . . . . . . . . . . . . . . 82

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