Case Study: From Subsidies: Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices.

Case Study: From Subsidies: Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices. What impact do you suppose farm subsidies are likely to have on the following?a. Housing pricesb. Technological change in the dairy industryc. The price of diary product substitutes