Estimating Inverse Demand System of Diary products: An Approach for forecast of Prices

Document Type : Research Paper

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Abstract

Interval between the decision to produce and the supply products to market causes the price for establishing equilibrium in the market plays adjuster role. In the present study, in order to forecast of price for three products of dairy products include milk, cheese and yogurt, inverse demand system in the form a system of equations has been estimated by seemingly unrelated regression method for time period 1370-1390. The result showed that milk has the greatest self amount flexibility. Also, the price of milk is independent quantities of cheese and yogurt in market and cheese and yogurt products are substitutes for each other. According to result, the price of milk is adjusted by change in the quantity of milk to the market and the prices of cheese and yogurt are adjusted by change in quantities of them

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Iranian Journal of Agricultural Economics and Development Research
Volume 46, Issue 4
July 2016
Pages 707-718

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