Fisheries Economics

4.1.3. Income concepts

It refers to the sale proceeds of a farmer or firm. There could be many sources of income, apart from the sale proceeds from the products manufactured by a firm. Generally income or Total Income of a farm is obtained as follows:

Total Income = Total Yield (kg) x Unit price (Rs/per unit of output).

Net Income=Total Income-Total Cost                                

                                   Total Income

Average Income = -----------------------

                                            Yield

Marginal income is the income obtained from one additional unit of the output.