Productivity measures the ratio output values to the cost of inputs. Good productivity is shown by high
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Productivity measures the ratio output values to the cost of inputs. Good productivity is shown by high ratio values; improved productivity is shown by higher ratio values over time. Does the following equation capture the meaning of productivity?
Productivity = pV/(vc)V, where, p is the price per unit; V the volume sold per year; vc the variable cost per unit.
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Related Book For
Production And Operations Management Systems
ISBN: 9781466507333
1st Edition
Authors: Sushil Gupta; Martin Starr
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