Section 10. The commissioner shall ascertain, by such examination or investigation as the situation may permit or warrant, and after a general public hearing held after due notice, what prices, terms and conditions relative to milk in the several localities and markets in the commonwealth, under the varying conditions therein, will be most beneficial to the public interest and will best protect the milk industry.

In every such examination or investigation and hearing, the commissioner shall take into consideration all the conditions affecting the milk industry, including the amount necessary to yield a reasonable return to the producer and to the milk dealer. In establishing minimum prices for milk under this chapter the commissioner shall cause said prices to be fair, just and reasonable, and, to accomplish that end, shall take into consideration and be guided by costs of production, hauling, handling, processing, storage, distribution and other cost factors involved in the production and marketing of milk, including compliance with all sanitary regulations, and shall consider the balance between the supply of milk and the consumption of the same, the purchasing power of consumers as evidenced by available indices of income and general business and industrial activity, and other economic conditions affecting the milk supply and demand for milk and shall consider the prices for milk in the different markets of the commonwealth which will best protect the milk industry in the commonwealth and insure a supply of pure, fresh milk adequate to cover consumer needs.