In Economics we are taught that a single firm is a price taker that takes the price that is set by an industry, using supply and demand, and uses that price as their own selling price. In this Cnn article, dairy farmers are very upset at the dairy industry. For a long time now the price of milk has been slowly declining. The milk farmers don’t understand what is going on. They don’t understand (probably because they have never taken economics) that the price is determined by the public and what amount we as consumers demand for the dairy productsis what the industry sets the price as. But according to the dairy farmers, this is not how the dairy industry is setting the price. "This market is a facade that makes people thinks there's a rational market that is setting the price of milk," said George Naylor, president of National Family Farm Coalition. "But its only milk processors and the traders that benefit from this market." These farmers believe that somehow they are being cheated! They felt so cheated that 10 members from the National Family Farm Coalition protested outside of a Chicago conference. After reading this article, I am not so sure about what’s going on. What do you think? Do these farmers have a good point? Or have they just forgotten everything they have learned from econ class?