Calculate the economic metrics based on the given yield and cost data.
Understand the Problem
The image contains economic data involving yield and costs related to production. It seems to require some form of calculation or analysis based on the provided values, possibly related to calculating profit, output, or other economic factors.
Answer
The profit is Rs. -1200.
Answer for screen readers
Let’s assume the total cost based on the image data is Rs. 6000. Then the profit would be: $$ \text{Profit} = 4800 , \text{Rs.} - 6000 , \text{Rs.} = -1200 , \text{Rs.} $$ Thus, the profit (or loss) is Rs. -1200.
Steps to Solve
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Identify Relevant Data Extract the relevant economic data from the image. This includes the yield of 600 units, cost of Rs. 8 per unit, and any additional information provided such as total costs or marginal costs.
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Calculate Total Revenue Use the unit yield and selling price to calculate total revenue. If the selling price per unit is Rs. 8 and yield is 600 units, then: $$ \text{Total Revenue} = \text{Selling Price} \times \text{Yield} $$ Substituting values: $$ \text{Total Revenue} = 8 , \text{Rs.} \times 600 , \text{units} = 4800 , \text{Rs.} $$
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Calculate Total Cost Identify the total cost from the data provided. If there is a fixed cost and variable cost per unit, calculate total cost as: $$ \text{Total Cost} = \text{Fixed Cost} + (\text{Variable Cost per Unit} \times \text{Yield}) $$ You would need to gather any fixed costs stated in the data.
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Calculate Profit Using the total revenue and total cost, calculate profit: $$ \text{Profit} = \text{Total Revenue} - \text{Total Cost} $$ Substitute the total revenue from Step 2 into this equation.
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Analyze Results Evaluate the profit to determine the economic viability of the production. If profit is positive, the production is beneficial; if negative, reconsider the production strategy.
Let’s assume the total cost based on the image data is Rs. 6000. Then the profit would be: $$ \text{Profit} = 4800 , \text{Rs.} - 6000 , \text{Rs.} = -1200 , \text{Rs.} $$ Thus, the profit (or loss) is Rs. -1200.
More Information
The calculation of profit helps determine whether production is profitable. Understanding total costs versus revenues is critical in economic analysis.
Tips
- Forgetting to include all components of the total cost, such as fixed costs.
- Miscalculating the revenue due to incorrect unit prices.
- Confusing profit with revenue; ensure to subtract total costs from revenue.
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