APPLIED

Never stop learning.

Life never stops teaching.
**************************************************
Kinds of Learner
Level of Participation Tend to Remember
10% of what we read
Passive: 20% of what we hear
30% of what we see
50% of what we see & hear
Active: 70% of what we say
90% of what we say & do
 APPLIED ECONOMICS
• K to 12 BASIC EDUCATION CURRICULUM
• SENIOR HIGH SCHOOL – ACCOUNTANCY, BUSINESS
AND MANAGEMENT (ABM)
• Grade: 12 2nd Semester
• No. of Hours/ Semester: 80 hours/ semester

• Subject Description: This course deals with the basic

principles of applied economics, and its application to
contemporary economic issues facing the Filipino
entrepreneur such as prices of commodities, minimum
wage, rent, and taxes. It covers an analysis of industries
for identification of potential business opportunities. The
main output of the course is the preparation of a
socioeconomic impact study of a business venture
 APPLIED ECONOMICS
Applied Economics is the application of
economic theories and principles to real
world situations with the desired aim of
predicting potential outcomes.
It is the study of observing how theories
work in practice.
Economic Theory is all about thinking things up,
while Applied Economics is about trying things
out.

http://www.investopedia.com/terms/a/applied-
economics.asp#ixzz4Dy0Tdtx9 (date)
 APPLIED ECONOMICS
A robust background in applied economics
allows people to make informed forecasts
about future trends.
It can involve the use of econometrics and
case studies.
(E'metrics deals w/ measurement of
economic data-empirical observations
using statistical methods.
Theories must be tested against empirical
data for validity before they can be
applied
http://marketbusinessnews.com/financial-
glossary/applied-economics/ (date)
 APPLIED ECONOMICS
Engaged in mathematical/quantitative and
qualitative analysis
• estimation of model-specified parameters
through statistical inference (e.g. estimating
the output elasticities of input in a
production function);
• validation of theoretical models through
econometric and other forms of empirical
analysis (e.g. seeking evidence for whether
unemployment rises as minimum wage is
raised, or whether countries with greater
trade openness have higher rates of
economic growth on average);
 APPLIED ECONOMICS
• as well as the application of theory to
predict outcomes given a set of
considerations (e.g. whether a particular
public policy will have its intended effect
as theoretically-predicted ... e.g. changes
in GDP in response to changes in fiscal
policy as specified in Keynesian theory):
and
• forecasting of economic variables using
relationships theoretically-specified.
APPLIED ECONOMICS
APPLIED ECONOMICS
APPLIED ECONOMICS
APPLIED ECONOMICS
 INTRODUCTION TO
ECONOMICS
 Economics is defined as the study of choices that
individuals and societies make in the production,
distribution and consumption of goods.

It is a social science that

deals with the efficient
allocation of scarce
resources in order to
satisfy a person's
insatiable wants.
 NATURE OF ECONOMICS
Why Study Economics?
Scarcity of Resources
Insatiability of Wants

 Appreciate events in economic history and understand how

the present-day system of economics came to be.
 Learn the ways in which economics explain the activities ofa
person through its tools, models, principles and standards.
 Make use of production and consumption concepts in business
endeavors or simply in understanding people's economic
behavior.
 NATURE OF ECONOMICS

 Manage economic and financial affairs; thereby,

achieving a good standard of living for ourselves, our
families and our nation.
 Understand government’s functions in economics and
choose leaders who are economically sensible.
 Understand what is happening in the economy of the
Philippines and the world and know how nationwide and
worldwide economic policies and events affect us all.
 The Three Fundamental
Questions in Economics

 1. What, and how much to produce?

 2. How to produce?

 3. For whom to produce?

 POVERTY (reduction)
 UNEMPLOYMENT (lack of employment
opportunities
 Low levels of Income and Productivity
 HIGH INTEREST ON LOANS/LOW SAVINGS
 HIGH POWER COST
 PESO DEVALUATION
 LOW FOREIGN DIRECT INVESTMENT(POLICY, PPP)
 Need: an investment-led economic growth
 Low public infrastructure investments
 Anti-corruption drive needs absolute sincerity
 Misgovernance and failed leadership that reduce
economic performance

ECONOMIC PROBLEMS of the

PHILIPPINES
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" If you didn't hear it with your own ears
or see it with your own eyes,
Don't invent it with your small mind and
share it with your big mouth".

8/18/2019
 Factors of Production
Land Labor

Capital Entrepreneurship
 Opportunity Cost
The value of the next best alternative that was not
chosen is called opportunity cost (Sexton, 2009).
 The Ceteris Paribus
Assumption
his is a Latin translation for the phrase, “letting everything else
T

be equal” or “holding everything else constant.”

 Positive
vs.
Normative Analysis

Positivestatements are attempts to

describe what happens and why it
happens, while Normative statements
are attempts to prescribe what should
be done.
 Economic growth means more output per capita of
essentially the same collection of goods and services.

 The concept of economic growth can be illustrated in

the economic model: Production Possibilities Curve.

Economic development means economic growth plus

well-being.

 Todaro & Smith (2006) define development as both a

physical reality and a state of mind.

Economic Growth and

Development as Goals in
Economics
The Production Possibilities Frontier
The Simple Circular Flow of the Economy
 ECONOMIC THINKING
1. People face trade-offs.
2. The cost of something is what you give up to get it.
3. Rational people think at the margin.
4. People respond to incentives.
5. Trade can make everyone better off.
6. Markets are usually a good way to organize economic
activity/ies.
7. Governments can sometimes improve market outcomes.
8. A country’s standard of living depends on its ability to
produce goods and services.
9. Prices rise when the government prints too much money.
10. Society faces a short-run trade-off between inflation and
unemployment.
 Mercantilism developed its own system of priorities and
strategies, such as the following:

 Manufacturing industries were seen superior to agriculture.

 In order to have a trade surplus (gains from trade), exports

were encouraged more than imports.

 Mercantilism advocated imperialism or the establishment of

colonies and territories that will benefit their mother countries.

Mercantilism
The goal of this economic thought was to accumulate as
much wealth in the form of gold and minerals.
  Pierre Samuel du Pont de Nemours, published in 1768 a book
entitled Physiocracy, a name which means “rule of nature.”

The Physiocrats favored a natural economy and they were the

earliest advocates of “laissez-faire” economics.

Laissez-faire is a French phrase which means ‘let things

alone.’

The Physiocrats were the forerunners of classical economics.

Physiocracy
This school that criticizes the mercantile system was founded
by a French man, Francois Quesnay (1694-1774).
 Born in Kirkcaldy, Scotland.

 Studied at University of Glasgow

and Oxford University.

 Theory of Moral Sentiments.

 An Inquiry into the Nature and

Causes of the Wealth of Nations

Modern School of Economic Thought

ADAM SMITH 1723-1790 (The Father of Economics)
Concepts and principles Adam
Smith popularized in
Economics:
 Principle of Invisible Hand.

 Division of Labor.

 Law of Absolute Advantage.

 Free Market.
David Ricardo (1772-
1832)
 He applied Adam Smith’s
principle of absolute
advantage to trade.

 He called his version, the

Principle of Comparative
Advantage.

 Ricardo also applied this

principle in commerce,
making him one of the
richest men in his time.

Other Classical Economists

 Jean Baptiste Say
(1767-1832)
 He is a Frenchman,
famous for his ‘law’ which
eventually became known
as Say’s law: “Supply
Creates Its Own Demand.”

 Production is seen as
creating its own demand,
as greater production
means more income
among workers for
purchasing goods and
services.

Other Classical Economists

Alfred Marshall
(1842-1924)
 He made mathematics an
important tool in
economics.

 Most concepts in
microeconomics such as
demand and supply,
equilibrium, elasticity,
consumer behavior and
production costs are
credited to him.

Other Classical Economists

 Karl Marx (1818-
1883)
 Karl Marx is known to be
the Father of
Communism.

 Das Kapital- he wrote in

1867.

 According to Marx, the

state reaches a classless
and perfect condition
called Communism.

Other Classical Economists

John Maynard
Keynes (1818-1883)
 John Maynard Keynes
developed an economic
philosophy in the form of
a mixed economy, known
as Keynesianism.

 Keynesianism played a
great influence on the
economic decisions of
America during the time
of the Great Depression
(1929-1939).

Other Classical Economists

 ECONOMIC SYSTEM
An economic system is an
institutional framework within
which economic activities are
carried on.
 Traditional economy

-is an economy where production

methods, exchange and distribution
of income are made according to
customs and traditions.

-This type of economy is a very

backward one since it does not
provide new avenues for changes to
respond to the needs of the time.

Types of Economic System

 Market economy

-is an economy characterized by the private ownership of

resources and the use of a system of markets and prices to
coordinate and direct economic activity.

-it places a high value on individual freedom and allows

self-interest to be the motivating force.

Types of Economic System

 Command Economy

-is an economy characterized by public ownership of

virtually all property resources and the rendering of
economic decisions through central economic planning.

- No Economic freedom

Types of Economic System

 Mixed Economy

-is a blend of market system and some form of

government regulation and control.

-the Philippine economy best exemplifies the Mixed

economic system where free enterprise is a guided one.

Types of Economic System

 Microeconomics  Macroeconomics

The Divisions/Branches of Economics

Chapter II
 a market is not really a place at all

 market is the process of exchanging

goods and services between buyers
and sellers

a market is an established
management that brings buyers and
sellers together to exchange particular
goods and services

 exists when these three elements

are present, namely; a buyer, a seller
and a facility for exchange

Market
 Market Structure
perfect competition
monopolistic competition
oligopoly
 monopoly
 Perfect
Competition

A perfectly
competitive market
exists where there
are many sellers of
homogeneous
product in the
market.
 Monopoly

A monopoly is
basically a one-firm
industry. There is
only one producer of
a unique product
that has no available
substitutes in the
market.
 Oligopoly

Oligopoly markets
are characterized
by very few sellers
with homogeneous
or unique
products.
"Anger is not an expression of strength. It
is an indication of one's inability to control
his thoughts, words and emotions. It is
easy to get angry. When the weakness of
anger takes over, the strength of reason
leaves. Cultivate within yourselves the
mighty power of self-discipline".

8/18/2019
 Monopolistic
Competition

A monopolistic
competitive market
is characterized by
many sellers of
differentiated
products.
DEMAND, SUPPLY, AND
MARKET EQUILIBRIUM
There are three functions of prices
(according to Milton Friedman):

1. They transmit information.

2. They provide an incentive to users of

resources to be guided by the
information.

3. They provide an incentive to owners of

resources to follow the information.

The Concept of Price Theory

 Demand

 It is the amount of
goods and services
consumers are
willing and able to
buy from the
market at various
prices, all other
factors remaining
constant.
 Law of Demand

 As the price of the

good increases,
quantity demanded
decreases; and as
the price decreases,
quantity demanded
increases.
Price Quantity Demanded

2 10

4 8

6 6

8 4

10 1

Demand Schedule
Demand Function

 It shows the  [Qd = f (P…) ]

relationship between
the quantity  The resulting
equation is:
demanded and the
price of the good  y = -x + 12, where
(and other factors).  y = price and
 x = quantity.
 use the two-point
form

Exercise: Given the points (3, -2) (1,6) find the equation of the line
 Demand Curve

 It is the graphical
representation of the
demand schedule.
The Non-Price Determinants of Demand

1. Taste and Preference

 If a person feels
that he/she will be
maximizing
satisfaction from a
good or a service,
then most
probably the
demand for such
good/service will
increase.
The Non-Price Determinants of Demand

2. Income

 Income is a major
factor affecting the
decision of the
consumer on how
much to demand for
a good or a service.
The Non-Price Determinants of Demand

3. Size of the Population

The number of
buyers in the
market affects
the quantity
demanded for a
particular good
or service.
The Non-Price Determinants of Demand
4. Prices of Related
Goods
(Two) Goods may be
complements or
substitutes.
Complementary goods
are commodities
where one cannot
function in the
absence of the other.
In the case of
substitute goods, one
good can function
even in the absence of
the other good.

VS
.
The Non-Price Determinants of Demand
5. Price and Income
Expectations
When consumers
expect that the
price of a certain
good will
increase in the
future, their
current demand
for that good will
increase.
 Change in Quantity Demanded
Vs.
Change in Demand

∆ in Quantity Demanded ∆ in Demand

Supply

 It is the amount of
goods and services
producers are willing
and able to sell in the
market at various
prices, all other
factors remaining
constant.
Law Of Supply

 It states that as the price

of the good increases, the
quantity supplied for the
good also increases; and
as the price declines, the
quantity supplied also
declines.

 There is a direct (positive)

relationship between price
and quantity supplied.
Thus, the slope (m =
Δy/Δx) of a supply curve
is positive.
Price Quantity Supplied

4 1

7 2

10 3

13 4

16 5

Supply Schedule
Supply Curve
 The Non-Price Determinants of Supply

1. Number of Sellers

 The number of sellers

in the market will
indicate the quantity
available for sale.
Thus, the greater is
their number, the
more is the quantity
supplied for a
particular good or
service.
The Non-Price Determinants of Supply

2. Technology
 A modern or advance
technology will result
to mass production,
while a traditional
method brings about
inadequate output.
 The Non-Price Determinants of Supply

3.Cost of Production

 The higher the cost of producing a particular

good, the lesser is the amount of goods
available for sale.
 The Non-Price Determinants of Supply
4. Taxes and Subsidies
 The higher the tax,
the lesser will be the
amount available for
re-investment by the
firm, thereby creating
less outputs.

 The more subsidies

given by the
government, the
more outputs will be
produced.
Change in Quantity Supplied vs. Change
in Supply

∆ in Quantity Supplied ∆ in Supply

 Market Equilibrium

Given the demand and supply equations, x = 15 – 3y and x = 2y -3 respectively,

the resulting values of x = 4.2 and y = 3.6. This is the equilibrium point (4.2, 3.6),
given that x is the quantity (quantity demanded and quantity supplied are equal)
and y as the price.
8/18/2019
8/18/2019
 CURRENCY UNIT SYMBOL PHIL.PESO

US Dollar USD 47.031

Japanese Yen JPY 0.4646
UK Pound GBP 62.6923
HK Dollar HKD 6.0618
Swiss Franc CHF 48.351
Canadian Dollar CAD 35.9977
Singaporean Dollar SGD 35.0742
Australian Dollar AUD 35.6871
Bahrain Dinar BHD 124.718
Saudi Arabian Rial SAR 12.5413
Brunei Dollar BND 34.9439
Indonesian Rupiah IDR 0.0036
Thai Baht THB 1.3464
UAE Dirham AED 12.8059
Chinese Yuan CNY 7.0867
Korean Won KRW 0.0421
European Monetary Union Euro EUR 52.4443
Argentinian Peso ARS 3.1628
Brazilian Real BRL 14.5306
Danish Kroner DKK 7.0504
Indian Rupee INR 0.7045
Malaysian Ringgit MYR 11.5954
Mexican New Peso MXN 2.4922
New Zealand Dollar NZD 33.6601
Norwegian Kroner NOK 5.5641
Pakistani Rupee PKR 0.4505
South African Rand ZAR 3.383
Swedish Kroner SEK 5.5043
Syrian Pound SYP 0.2186
Taiwanese NT Dollar TWD 1.4846
Venezuelan Bolivar VEB 4.7149

http://www.philippinecountry.com/peso_dollar.html 8-6-16

The Philippine Peso & Foreign Currencies

Year Exchange Rate

2011 P43.84
2012 P41.06
2013 P44.39
2014 P44.79
2015 P46.93
8/18/2019
 PRICE OF RICE
Prices as of Dec. 29, 2015

Types of Rice Prevailing Price Lowest PriceHighest Price

Php peso Php pesoPhp peso

NFA Well milled Rice32____

Regular Milled Rice383343
Well Milled Rice 423646
Premium Rice 454250
Fancy Rice 504760

http://magkano.com/market/rice_price.htm
8/18/2019
 Philippine Population

The population of Philippines represents 1.37 percent of the

world´s total population which arguably means that one
person in every 74 people on the planet is a resident of
Philippines.
8/18/2019
TOP 20 LARGEST COUNTRIES by POPULATION

The world population (the total number of living humans on Earth) was 7.4 billion as
of June 2016 according to Worldometers and based on the latest estimates provided
by the United Nations Department of Economic and Social Affairs, Population Division
[1]. World population is projected to reach 8 billion in 2024 and 10 billion in the year
8/18/2019
2056.
http://www.worldometers.info/world-population/June 2016
Demand outpacing supply of jobs,
admits labor chief
Labor Force Survey
It listed the government’s job-creation numbers as follows:

YearAdditional Jobs
20102.8 % increase (974,000 additional jobs)
20113.2% (1.157 million)
20121.1% (408,000)
20130.8% (317,000)
2014 (1stQ)0.8% (283,000)

 Baldoz said the unemployment rate was “steady” but “it continues to be a big challenge to
whoever sits in government.”
 it’s a draw—two percent enter the (labor) force (annually), two percent (of jobs) are also created
annually.”
"JOBLESS GROWTH" In a jobless growth economy, unemployment remains stubbornly high even
as the economy grows
 The OECD approach to inclusive growth is multidimensional, going beyond income, and that
the proceeds of economic growth must be shared.

 Read more: http://newsinfo.inquirer.net/585455/demand-outpacing-supply-of-jobs-admits-labor-chief#ixzz4GWN8EYob, 3-2014

8/18/2019
Summary of Current Regional Daily Minimum Wage Rates
Non-Agriculture, Agriculture
(In Pesos)
(As of August 2016) DOLE

8/18/2019
 Overseas Filipinos Greece 61,716
Mga Pilipino sa ibang bansa
South Korea 59,839
Total population
Oman 55,590
10,238,614 (2013)[1]
Regions with significant populations France 48,018

United States 3,535,676 Germany 47,214

Saudi Arabia 1,028,802 42,804

Spain
UAE 822,410 New Zealand 39,091
Malaysia 793,580 36,400
Israel
Canada 721,578
Brunei 32,765
Australia 397,982
Jordan 29,766
Italy 271,946
China 29,691
United Kingdom 218,126
Lebanon 29,113
Qatar 204,550
Papua New Guinea 26,153
Singapore 203,243

201,094 Netherlands 21,789

Hong Kong
Kuwait 198,289 Switzerland 20,910

Japan 182,917 Cyprus 19,948

Taiwan 89,195 Norway 18,088

Bahrain 72,083 14,544

Macau

8/18/2019
 ELASTICITY

It measures the responsiveness or sensitivity of quantity

(QD & QS) to changes in factors like price, income and
price of other goods.

Price Elasticity of
Demand

 Measures how much

quantity demanded
will change in
response to a
change in price.
8/18/2019
 I. Given: Qd1= 10,000 P1 = 5
Qd2 = 11,000 P2= 4

ep = 0.43 inelastic

Revenue= P * Q 1. P50,000
2. P44,000

II. Given: Qd1 = 10,000 P1 = 5

Qd2 = 16,000 P2= 4

ep = 2.08 elastic

Revenue= P * Q 1. P50,000
2. P64,000

8/18/2019
• It is a measure of responsiveness of the consumers' demand
to a change in income (Y).

•It is the the percentage change in Qd for a percent change in

income.

Income Elasticity
 The cross-price elasticity measures the
responsiveness of a consumer's demand
for a good to a changes in the prices of
related goods.

It determines the change in the quantity

demanded for a good when the price of the
other related good changes.

exy > 0, positive, two goods are substitute goods

exy < 0,negative, two goods are complementary
goods

Cross Price Elasticity

 Chapter III-SWOT Analysis

What is SWOT Analysis? This analysis is used to

list down favorable and unfavorable factors that
go against a particular situation.

SWOT analyzes Strengths, Weaknesses,

Opportunities and Threats that are associated
with a situation by considering all the internal
and external aspects of the business and
market. This way, business managers can
understand whether a situation has enough
aspects in its favor and ultimately worth being
pursued.
 Example SWOT Analysis: Replay Plastics

• Replay Plastics recycles plastic waste into

commercially viable products, using
environmentally-friendly methods. The company
wants to capitalize on one of the recycling
industry’s highest-growth products—
polyethylene terephthalate (“PET”), which is
found in post-consumer beverage and water
bottles—by establishing the western United
States’ first PET recycling plant. The recycled
material from the PET plant will then be
channeled into a brand-new Replay Plastics
Packaging Division, which will produce extruded
sheet plastic to sell to manufacturers.
SWOT Analysis
Potential Strategies for Growth for
Replay Plastics
• Replay Plastics needs to investigate its options for
obtaining capital. Funding a new venture can take time,
and because it’s the step one of the long road to
revenue—they must secure funding before they begin
construction, and they must complete construction
before they can begin revenue-generating recycling
operations and packaging material production—time is of
the essence. Luckily they have already written their
business plan, which is often required by prospective
lenders and investors.

• Replay Plastics may want to consider adding a Research

& Development team, to investigate new product
possibilities and keep the company’s operations well
prepared for any changes in state or federal
environmental regulations.
BUSINESS PLAN
• A business plan is a written description of your
business's future, a document that tells what you
plan to do and how you plan to do it.

• Business plans are inherently strategic. You start

here, today, with certain resources and abilities.
You want to get to a there, a point in the future
(usually three to five years out) at which time
your business will have a different set of
resources and abilities as well as greater
profitability and increased assets. Your plan
shows how you will get from here to there.
 PARTS OF A PLAN/STUDY
BUSINESS PLAN VS. FEASIBILITY STUDY
• Organizational Plan Project Description
• Marketing Plan Market
• Financial Plan Technical
• Socio-Economic Financial/Economic
Organizational
Socio-Economic-
Environmental
FEASIBILITY STUDY

A feasibility study is an analysis of the viability of

an idea. The feasibility study focuses on helping
answer the essential question of “should we
proceed with the proposed project idea?” All
activities of the study are directed toward helping
answer this question.

Feasibility studies can be used in many ways but

primarily focus on proposed business ventures.
OTHER WAYS

• Project Proposal
• Economic Survey...
Agriculture, Industry and
Services.
• Agriculture sector includes Agriculture, Forestry
and Fishing (sector A)
• Industry sector is composed of the following:
Mining and Quarrying (B), Manufacturing( C),
Electricity, Gas, Steam and Air-Conditioning
Supply (D), Water Supply; Sewerage, Waste
Management and Remediation Activities (E), and
Construction (F).
Agriculture, Industry and
Services.
• The Services sector is composed of Wholesale
and Retail Trade, Repair of Motor Vehicles and
Motorcycles (G), Transportation and Storage
(H), Accommodation and Food Service Activities
(I), Information and Communication (J),
Financial and Insurance Activities (K), Real
Estate Activities (L), Professional, Scientific and
Technical Activities (M), Administrative and
Support Service Activities (N), Education (P),
Human Health and Social Work Activities (Q),
Arts, Entertainment and Recreation (R), and
Other Service Activities (O).
Agriculture
For sector A- Agriculture, Forestry and Fishing, it is
represented by the activities undertaken in the
agribusiness
Agribusiness as the commercial aspect related to
agriculture or agricultural activities and its
products.
The agribusiness sector is engaged in the
production and operations of a farm, the
manufacture and distribution of farm equipment
and supplies, and the processing, storage, and
distribution of farm commodities.
The very core of the industry is agriculture, which is
supported by the manufacturing sector and
service sector.
Subsectors of the Philippine
Agribusiness Sector
1. Crop Production
2. Animal Production (livestock and
poultry)
3. Forestry and Logging
4. Fishery (including aquaculture)
5. Agricultural-Support Services and
Manufacturing
Agribusiness management is the application of
business skills in areas of marketing, finance,
economics and management to the agricultural
industry
Agriculture, Industry and Services
 Individual exercise
Farm income computation – different scenarios

100
 SAMPLE COMPUTATION

8/18/2019
 MEASURE OF PROFITABILITY
Net Income = Income - Cost
Cash Income = Net Income +
Farmers' Counterpart in the Cost

Base Figure Low High

Average Yield Yield Yield
NI =3,300 – 12,515 =12,000 – 12,115 =38,500 – 12,915
=Php 20,485 =Php - 115 =Php 25,585

= 20,485 + 3,200 = -115 + 3,200 = 25,585 + 3200

CI
= Php 23,685 = Php 3,085 =Php 28,785

8/18/2019
 MEASURE OF EFFICIENCY
Return on Investment = Net Income/Cost
Yield per Module
Income per Kilogram = Net Income/Yield
Break-even Cost = Cost/Yield
Break-even Yield = Cost/Selling Price

Base Figure Low High

Average Yield Yield Yield

ROI =20,485/12,515 = - 115/12,115 =25,585/12,915

=1.64 x 100 = -0.009 x 100 = 1.98 x 100
=164% = -0.95% = 198%
Yield per Module =6,000 =3,000 = 7,000kg
Income/kg =20,485 =_ 115 =25,585/7,000
6,000 3,000
=P3.40 =P-0.04 =P3.66
Break-even Cost =12,515 =12,115 =12,915/7,000
6,000 3,000
=P2.09 =P4.04 =P1.85
Break-even Yield =12,515 =12,115 =12,915
5.50 4.00 5.50
=2,275 =3,029 =2,348kg
8/18/2019
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