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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.
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. Determine the multifactor productivity using the following costs:
tableLabor per hour,Capital per month,Energy per BTU,Last Year,This YearProductionLaborCapitalEnergy
Complete calculation inside highlighted question cell
Last Year This Year
a What is the percent change in the labor productivity? Blank
b What is the overall multifactor productivity change? Blank
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