The cost-price squeeze in dairy farming has forced farmers to become more competitive in the market place. This has primarily occurred through increased herd size and productivity gains associated with labour-saving technology. The cost and revenue structures and changes in the contribution of...

Starting with an individual firm and its quadratic production function, this paper derives all related functions marginal and average cost, supply, profit, and input-demand. Since derivatives in other functions correspond to parameters of the quadratic, the results generalize. Explicit...