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Agricultural policy, technology adoption, and farm structure

, : Agricultural policy, technology adoption, and farm structure. Staff Report, Economic Research Service, US Department of Agriculture (AGES8880810): iv + 50

The linkages among farm policy instruments, technological introduction and adoption, and the structure of agriculture are illustrated in an economic model. The model shows that policy merely delays, but cannot prevent, the consequences of technological advance. New technology permits fewer farms to produce more output at lower cost, and ultimately about the same per-farm profit, than possible under the old technology.

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