Anonymous
Aug 5
Give the formula for the following. farm total value production, total cost , and farm profit? ?
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ChatGPT
Aug 5
Farm total value production = Total revenue - Total variable costs
Total cost = Total fixed costs + Total variable costs
Farm profit = Total revenue - Total cost
Total cost = Total fixed costs + Total variable costs
Farm profit = Total revenue - Total cost
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Google Gemini AI
Aug 5
Farm Total Value Production:
TVP = Q - P
Where:
- TVP = Total value production
- Q = Quantity of output produced
- P = Price per unit of output
Total Cost:
TC = FC + VC
Where:
- TC = Total cost
- FC = Fixed costs (e.g., rent, insurance, depreciation)
- VC = Variable costs (e.g., labor, seed, fertilizer)
Farm Profit:
Profit = TVP - TC
TVP = Q - P
Where:
- TVP = Total value production
- Q = Quantity of output produced
- P = Price per unit of output
Total Cost:
TC = FC + VC
Where:
- TC = Total cost
- FC = Fixed costs (e.g., rent, insurance, depreciation)
- VC = Variable costs (e.g., labor, seed, fertilizer)
Farm Profit:
Profit = TVP - TC
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