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This book is based on 'An Economic Study of Milk Production under Different Levels of Groundwater Exploitation in Southern Karnataka' in India. The study demonstrated a strong relationship between groundwater exploitation and milk production and its economic implications on milk production. The innovative methodology used in this study may be immensely useful in arriving the full economic cost of milk production in Developing Economies and also for determination of Minimum Support Prices (MSP) for milk. Analysis of technical efficiency in this study is helpful in effective allocation of natural resources in milk production (especially groundwater).