The formula to calculate Sheep Profit is:
\[ SP = SR - SC \]
Where:
Sheep Profit is the net profit earned from raising and selling a sheep. It is calculated by subtracting the total cost to raise each sheep from the total revenue per sheep. This metric is useful for farmers and livestock managers to understand the profitability of their sheep farming operations.
Let's assume the following values:
Using the formula:
\[ SP = 150 - 100 = 50 \text{ dollars} \]
The Sheep Profit is $50.
Let's assume the following values:
Using the formula:
\[ SP = 200 - 120 = 80 \text{ dollars} \]
The Sheep Profit is $80.