Investment theory, adjustment costs and milk supply response: A preliminary analysis presenting regional supply functions for England and Wales

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• Martin Currie and John McInerney have given valuable comments on the formative drafts of this article. In addition. I am grateful to Frank Brechling for allowing me to read a copy of his book. Investment and Employment Decision, prior to publication and I acknowledge the insights into investment theory that I have gained from that source. Finally. I thank the Milk Marketing Board for financial support during the course of part of this study. None of the foregoing are, of course, responsible for any omissions, errors and inadequacies.
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