Asphalt

A.C. = w₀L_hS_f Labour ✦7.49 Shadow wage w₀ ✦16 an hour × L_h 0.2 hours per tonne × skill factor S_f 2.34 S_f for industry: training ✦45,000 against ✦45,000, queue 20 hours against 48 + Σ q_iP_irλ_i Materials ✦267 Petroleum: 6.3 bbl × $30/bbl × r 1.5 × border 0.94 × λ 1.00 = ✦266 + (D + M_o)α_e Capital ✦58 Depreciation and maintenance ✦40 per tonne × financing 1.45 × waste factor α_e 1.00 Financing is interest at 6% on equipment's average value over a 15-year life. α_e is 1.00 when maintenance hours and defects are on target. + Ep_e Energy ✦5 E 100 kWh per tonne × p_e ✦0.05 per kWh = ✦337

A.V. = rP*_world Accounted value ✦447 per tonne World price $275 per tonne plus freight and insurance 8.27% = P* $298 × r 1.5 crowns per US dollar Import parity: the price at the Commonwealth border for a good it could otherwise import. Observed abroad, not calculated: a wasteful producer raises only its own cost. = ✦447

Revenue = A.V. × Q Accounted revenue ✦75.3 m p.a. Domestic: 168,600 t × ✦447 = ✦75.3 m = ✦75.3 m

Surplus = (A.V. − A.C.) × Q − levies Accounted surplus ✦18.5 m p.a. Revenue ✦75.3 m − cost ✦337 × 168,600 t = ✦18.5 m Distributed 40% to reinvestment, 20% to the municipal aggregate and 40% swept to the Treasury. = ✦18.5 m