Guble Company manufactures wallets fram fabric. In $2021,$ Guble made $2,350,000$ wallets using $1,975,000$ metres of fobric. In $2022,$ Guble plans to make $2,209,000$ wallets and wants to make fabric use more efficient. At the same time, Guble wants to reduce copocity; eapacity in $2021$ was $2,800,000$ wallets at a total cost of $$8,400,000.$ Guble warits to reduce capocity to $2,650,000$ weillets, at a total cast of $$8,215,00$ in $2022.$

Suppose that in $2022$ Guble makes $2,209,000$ wallets, use$81,858,000$ metres of fobric, and reduces eapacity to $2,650,000$ units and costs to $$8,215,000.$ And the fabric costs $$41$ per metre in $2022$ and $$4\mathrm{.}2$ per metre in $2021.$

Required: $($do not found the interim calculation but round your answers to $4$ decimal placess$)$

Compute Guble Companys total foctor productivitiy $($IFP$)$ for $2022.$

Compare IFP for $2022$ with o benchmark TFP for $2021$ inputs based on $2022$ output.

Answer:

$1.$

$\{\begin{array}{ccc}\text{:}[& \text{T}\text{o}\text{t}\text{a}\text{l}\text{f}\text{a}\text{c}\text{t}\text{o}\text{r}\text{p}\text{r}\text{o}\text{d}\text{u}\text{c}\text{t}\text{i}\text{v}\text{i}\text{t}\text{y}\text{f}\text{o}\text{r}& ]\\ 2022& using2022\text{p}\text{r}\text{i}\text{c}\text{e}\text{s}& \end{array}=\frac{\text{Q}\text{u}\text{a}\text{n}\text{t}\text{i}\text{t}\text{y}of\text{o}\text{u}\text{t}\text{p}\text{u}\text{t}\text{p}\text{r}\text{o}\text{d}\text{u}\text{c}\text{e}\text{d}in2022}{\text{C}\text{o}\text{s}\text{t}\text{s}of\text{i}\text{n}\text{p}\text{u}\text{t}\text{s}\text{u}\text{s}\text{e}\text{d}in2022\text{b}\text{a}\text{s}\text{e}\text{d}on2022\text{p}\text{r}\text{i}\text{c}\text{e}\text{s}}$

$1650000$

units of output per acciar of input $=$anets

Time left $0$:$59$:$003$