QUESTION 13 A firm has been in business for a while. The owner wonders whether their productivity is improving. The following table provides information on output, labor hours used, and materials used, as well as output price and input cost, in three different months. As demand is seasonal, output does vary. The firm does have capital as an input also. The amount of capital used has remained the same and made up 20% of total input expenses in month 1. Use month 1 as the base period. Month : Output (selling price) Labor Hours wage) Materials Units (per lb.) 1 2000 1000 ($100) ($110) (S120) 6 400 ($15) 160 ($16) 440 ($17) 200 ($10) 80 ($11) 150 ($12) 12 2000 Using the method we have used in class, and using the 1st month as the base, a what is the weight of labor that we will use in the 6th month? (to 2 decimal places) QUESTION 13 A firm has been in business for a while. The owner wonders whether their productivity is improving. The following table provides information on output, labor hours used, and materials used, as well as output price and input cost, in three different months. As demand is seasonal, output does vary. The firm does have capital as an input also. The amount of capital used has remained the same and made up 20% of total input expenses in month 1. Use month 1 as the base period. Month : Output (selling price) Labor Hours wage) Materials Units (per lb.) 1 2000 1000 ($100) ($110) (S120) 6 400 ($15) 160 ($16) 440 ($17) 200 ($10) 80 ($11) 150 ($12) 12 2000 Using the method we have used in class, and using the 1st month as the base, a what is the weight of labor that we will use in the 6th month? (to 2 decimal places)