COST OP PRODUCTION 



233 



are 30, 18, and 13. No doubt A has a large situational 

 value accruing from its position close to the railway 

 station, and in the centre of a prosperous community, 

 but a great part of the excess in the price of A is due 

 to the superior quality of the land. 



The following table shows the total cost of production 

 in the three cases of a crop of wheat in a particular field. 

 The size of the areas in the case of A is 30 acres, while 

 that for B and C is 60 acres. The estimates are calculated 

 directly from the actual costs supplied by the individual 

 farmers who have kept a careful record of expenditure. 



TABLE XXXVI. 



COST OP PRODUCTION ON THREE REPRESENTATIVE 

 FARMS. 



H 2 



