First, calculate the revenue:
The revenue from selling wheat is:
Revenue=160×9.56ext(intonnes)=1,529.60exteuros
The revenue from leftover straw is:
Straw Revenue=75exteuros
Total revenue:
Total Revenue=1,529.60+75=1,604.60exteuros
Total costs are €1300, therefore the profit:
Profit=1,604.60−1,300=304.60exteurosperhectare