efficiency study commissioned by the local university revealed that Bellamy can produce the same 26,000 units of output using either of the following two combinations of inputs: The cost of materials is $10 per pound; the cost of labor is $13 per hour. Required: 1. Compute the output-input ratio for each input of Combination F1. If required, round your answers to two decimal places. Does this represent a productivity improvement over the current use of inputs? yeso What is the total dollar value of the improvement? $ Classify this as a tochnical or an allocative efficiency improvement. The calculation of the current productivity ratios is as it describes what it is. The calculation of the F1 productivity ratios is 2. Compute the output-input ratio for each input of Combination F2. If required, round your answers to two decimal places. Materials Labor Does this represent a productivity improvement over the current use of inputs? Now, compare these ratios to those of Combination F1. What has happened? F2 has productivity for materials and productivity for labor. 3. Compute the cost of producing 26,000 units of output using Combination F1. 5 Compare this cost to the cost usine Combination F2. Does moving from Combination F1 to Combination F2 represent a productivity improvement? What would be your recommendation to Bellamy? Overall, Combination F1 produces the productivity improvement for Bellamy than Combination F2. A data analytic model produces an outcome that tells the decision maker what should be done