HORIZONTAL DIFFERENTIATION WITH DIFFERENTIAL INPUT COSTS: RETAIL PRICES FOR MILK BY FAT CONTENT
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Markets for horizontally differentiated products with differential costs are important and have unique features. This paper studies sellers' pricing strategy and market equilibrium in these markets under various competition scenarios in the context of retail milk markets. An empirical study is also conducted to examine the effects of cost factors on retail milk prices and to characterize competition in markets in four California cities.