In the summary in Table 22 it is assumed that the labor freed can be 

 productively employed and that it would earn SI. 00 an hour. Alternative 5 

 (self-ownership, custom hiring, and custom work off the farm) would result 

 in the highest net farm income. But this alternative would not produce the 

 lowest costs per unit of production, although costs would be reduced. 



Table 22. — Comparison of Investment and Costs and Returns for Alternative Patterns of 



Ownership of Machinery, Assuming Labor Has a Value of $1.00 an Hour and 



Labor Freed Through Custom Hiring Is Not Released, Farm B* 



*See text footnotes 13, 14, 15, and 16 for description of diffeiences in costs and 

 income when hired labor freed through custom hiring is released. 

 fAll equipment valued at 1949 purchase price. 



^Includes costs of hiring and doing custom work where applicable. 

 §See Table 20 for a list of operations. 



||The same groups of operations were compared as in Table 20. 

 IfSee page 30, for a description of operations. 

 **See page 30, for a description of operations. 



Farm C — A Large Dairy Farm 



Farm C as operated contains 90 acres of cropland, 130 acres of un- 

 fertilized permanent pasture, and some woods and wasteland. A 36-cow herd 

 and 14 head of other dairy stock are kept. The livestock program requires a 

 crew of two men. During the cropping period an additional four months of 

 labor is hired. The farm is equipped with a medium-sized and small tractor, 

 and a farm truck of lYo-ton capacity. A complete line of tractor implements 

 ife available. 



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