Potatoes

A.C. = w₀L_hS_f Labour ✦59.1 Shadow wage w₀ ✦16 an hour × L_h 2 hours per tonne × skill factor S_f 1.85 S_f for agriculture: training ✦30,000 against ✦45,000, queue 10 hours against 48 + Σ q_iP_irλ_i Materials ✦5.4 Fertiliser: 20 kg × $202/t × r 1.5 × border 0.89 × λ 1.00 = ✦5.4 + (D + M_o)α_e Capital ✦52.2 Depreciation and maintenance ✦36 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 ✦4 E 80 kWh per tonne × p_e ✦0.05 per kWh = ✦121

A.V. = rP*_world Accounted value ✦257 per tonne World price $150 per tonne plus freight and insurance 14.3% = P* $171 × 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. = ✦257

Revenue = A.V. × Q Accounted revenue ✦275 m p.a. Domestic: 1.07 million t × ✦257 = ✦275 m = ✦275 m

Surplus = (A.V. − A.C.) × Q − levies Accounted surplus ✦146 m p.a. Revenue ✦275 m − cost ✦121 × 1.07 million t = ✦146 m Distributed 40% to reinvestment, 20% to the municipal aggregate and 40% swept to the Treasury. = ✦146 m