A new method of utilizing pulsed neutron source measurements for the determination of the subcriticality of an assembly directly in terms of dollars is proposed. Essentially, the method determines the parameter (kβ/l) using the complete response curve of a repetitively pulsed assembly after the quasi-equilibrium state has been attained. This value of (kβ/l) coupled with the usual α-measurement, assuming the prompt decay constant to be dominant, yields the reactivity directly. The analytical model is based on a bare one-group diffusion theory system with m-delayed precursors. The application of these results to experiment shows that their applicability is much broader than the simple analytical model would indicate.