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A company has improved its production process. Under the old process, 1 6 workers could produce 4 , 4 9 2 units per hours and
A company has improved its production process. Under the old process, workers could produce units per hours and the materials cost $ per unit of output. Workers are paid $ per hour and the finished product is sold for $ per unit.
After the improvement, materials costs have been reduced by $ per unit of output and it now takes fewer workers to make the same amount of output.
What is the percentage change in multifactor productivity? do not use a sign, eg enter as
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