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Methods for Evaluating Economic Efficiency in Agricultural Marketing

Published online by Cambridge University Press:  28 April 2015

Richard L. Kilmer  and
Walter J. Armbruster
Richard L. Kilmer
Affiliation:
Department of Food and Resource Economics, University of Florida
Walter J. Armbruster
Affiliation:
Oak Brook, Illinois
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Extract

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.

Type
Invited Papers and Discussions
Information
Journal of Agricultural and Applied Economics , Volume 16 , Issue 1 , July 1984 , pp. 101 - 110
Copyright
Copyright © Southern Agricultural Economics Association 1984

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