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Methods for Evaluating Economic Efficiency in Agricultural Marketing
Published online by Cambridge University Press: 28 April 2015
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An economically efficient allocation of resources maximizes consumer and producer surpluses. It can be shown that under perfectly competitive conditions, an efficient allocation of resources will evolve. It may be the global welfare optimum, but for a given set of conditions, consumer and producer surpluses can be maximized.
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- Copyright © Southern Agricultural Economics Association 1984
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