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2.1. Show on a graph two market scenarios for the fluid milk industry explained in this case study: a competitive industry scenario and a market
2.1. Show on a graph two market scenarios for the fluid milk industry explained in this case study: a competitive industry scenario and a market power scenario (show relevant curves, quantities, prices, and marketing margins). The latter scenario should incorporate fluid milk processors' buyer market power in the input (raw milk) market and seller market power in the output (fluid milk products) market. Discuss the effects of fluid milk processors' market power on dairy farmers, retailers, and final consumers (discuss changes in relevant quantities, prices, and marketing margins)
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