Answer
$192 loss per acre
Work Step by Step
The wage cost per month per worker:
$\$6.20 \times 160 = \$992$
Other costs per acre: equipment $\$150$, plus normal profit $\$50$.
Total cost:
$\$992 + \$150 + \$50 = \$1,192$
Revenue = $\$1,000$.
Economic profit (loss):
$\text{Revenue} − \text{Total cost} = \$1,000 − \$1,192 = −\$192$ per acre (a $\$192$ loss per acre).
