Costs to produce milk differs significantly â the range is from 4 to 128 US-$ per 100 kg milk. From 2000 â 2012, cost of milk production increased in all countries analysed. Cost of milk production in China is estimated 50% above the level in US and Germany.
Definition of Wages: Wages are remuneration paid to labor in return for the services rendered. Benham has defined the term wages in a restricted sense. According to him, a wage may be defined as a sum of money paid under contract by an employer to a worker in exchange for service rendered.
Mean Wage . An average wage. An occupational mean wage estimate is calculated by summing the wages of all the employees in a given occupation and then dividing the total wages by the number of employees. Median Wage . A boundary. An occupational median wage estimate is the boundary between the highest paid 50% and the lowest paid 50% of workers in that occupation. Half of the workers in a given occupation earn more than the median wage and half the workers earn less than the median wage. Mid-Range