Glassware

A.C. = w₀L_hS_f Labour ✦936 Shadow wage w₀ ✦16 an hour × L_h 25 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 ✦460 Glass: 1.05 t × $315/t × r 1.5 × border 0.93 × λ 1.00 = ✦460 + (D + M_o)α_e Capital ✦479 Depreciation and maintenance ✦330 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 ✦125 E 2,500 kWh per tonne × p_e ✦0.05 per kWh = ✦2,000

A.V. = rP*_world Accounted value ✦3,818 per tonne World price $2,500 per tonne plus freight and insurance 1.8% = P* $2,545 × 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. = ✦3,818

Revenue = A.V. × Q Accounted revenue ✦85.8 m p.a. Domestic: 22,480 t × ✦3,818 = ✦85.8 m = ✦85.8 m

Surplus = (A.V. − A.C.) × Q − levies Accounted surplus ✦40.9 m p.a. Revenue ✦85.8 m − cost ✦2,000 × 22,480 t = ✦40.9 m Distributed 40% to reinvestment, 20% to the municipal aggregate and 40% swept to the Treasury. = ✦40.9 m