Question
A) The multifactor productivity with dollars as the common denominator for last year is enter your response here dozen/$. (Round your response to three decimal
A) The multifactor productivity with dollars as the common denominator for last year is enter your response here dozen/$. (Round your response to three decimal places.)
B) Determine the multifactor productivity with dollars as common denominator for this year. the multifactor productivity with dollars as common denominator for this year is____ dozen/$ round to three decimals.
c) determine the precent change in productivity for the monthly average last year versus the monthly average this year on a multifactor basis. The precentage change in productivity for this monthly average is ____% round responce to one decimal place
As part of a study for the Department of Labor Statistics, you are assigned the task of evaluating the improvement in productivity of small businesses. Data for one of the small businesses you are to evaluate is shown below. The data are the monthly average of last year and the monthly average this year. Labor $12 per hour; Capital 0.85% per month of investment; Energy $0.40 per BTU. \begin{tabular}{lcc|} \hline & & \\ \hline & LAST YEAR & THIS YEAR \\ \hline Production (dozen) & 1,000 & 1,000 \\ Labor (hours) & 360 & 330 \\ Capital investment (\$) & 10,000 & 13,000 \\ Energy (BTU) & 3,900 & 3,700 \\ \hline \end{tabular}Step by Step Solution
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