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Hello can you please assist me with parts a, b and c? Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok
Hello can you please assist me with parts a, b and c?
Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,000 tires per day with the following resources: Labor: 425 hours per day @ $12.00 per hour Raw Material: 21,000 pounds per day @ $1.00 per pound Energy: $5,000 per day Capital: $10,000 per day a) Labor productivity per labor hour for these tires = tires/labor hour (round your response to two decimal places). b) Multifactor productivity for these tires = tires/dollar (round your response to four decimal places). c) The percent change in multifactor productivity if Fok can reduce the energy bill by $1,000 per day without cutting production or changing any other inputs = |% (enter your response as a percentage rounded to two decimal places). Note: calculate the new multifactor productivity to four decimal places before calculating the percentage changeStep by Step Solution
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