IPRICE AND SUBSTITUTION ELASTICITIES FOR WHEAT RELATED TO PRICE POLICIES FOR WHEAT

This thesis was primarily designed to discover the price elasticity of hard spring wheat, and the substitution elasticities between it and hard winter and soft winter wheats. Furthermore, it Was anticipated that these relationships would lend guidance and direction for a more effective price policy for wheat. Part I lays the groundwork for the thesis by presenting the general problem situation and the methodology to be employed. Also it covers the objectives and the hypothesis. Part II describes the data and the selection of the variables used in the multiple regression analysis. The results and the shortcomings of this analysis are also included in this section. In Part III are fouhd the conclusions of the study and the attempt to apply the findings to various support price levels for wheat