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002:~~ the averagc figures, while accurately calculated, ate not generally reflective of any particular section of the state. They do have merit in the sense of proportioning the grand total figures to a more easily understood unit basis. Previously, we presented several of the results that were calculated from Rew/ls 1974 data. You will recall the coverage of that example was the whole state. Drawing your attention to the three unit factors which were developed, we will present the range of the values which comprised those calculations. The financial yield differential factor of $244 for the state rose as high as $325 per acre in Cheyenne County. That same factor also sank to $0 in Wyandotte County. This factor represents the additional earnings an acre of irrigated land will provide to the manager. When the counties had bcen collected into regions for analysis, Region 8 had the highest financial yield differential factor of $277 per acre. Region 1 had the lowest with $140 per acre. The second unit factor discussed was the average dollar earnings from an acrc of dryland agriculture. The state average was $112 pcr acre. The high- est corresponding value from a county was $222 per acre from Doniphan County. The county which recordcd the lowest dry land earnings was Morton with $69 pcr acrC. The regional analysis showcd Region 8 with $131 pcr acre as the high region. Region 5, with earnings of $94 per acre, represented the low region. This figure indicates the dollar return one would expect from an acre of dryland agriculture. The last unit figurc discussed was the amout of money expected to be earned from the application of one acre.foot of water to agricultural crops. The state average was $150 per acre.foot. Jefferson County with $308 per acre-foot reprcscnts the high county. Wyandotte is the low with $0 per acre. foot. Region 2 with a factor of $229 per acre.foot represents the high region. Lastly, the low region, at $137 per acre-foot, is Region 7. One might note that Wyandotte County had no earnings per acre.foOl of water nor earnings per acre of irrigated land. Indeed, there was no indica~ tion that crops were irrigated. However, they did have a high dryland earn- ings. It seems reasonable to expect a lack of enthusiasm for switching to a different technology when the current one is doing fine. We have presented a great deal of information concerning the revenue Costs side of agriculture. These figures are only reflective of the earninbs of indi- vidual farmers. Thc range of these revenue valucs have been explicitly point- ed out. There is no one Ilumerical factor which can be considered appropri- atc for statewide use. The important item is how these numbers comt>are with business costs. The costs of doing business come in two forms. There are the operating costs and the fixed investment costs. In most instances, the operating costs ] 5