Question: The case of fast car a. C. Speedy is a famous company with its fast car cleaning. Speedy cleans 600 cars per day. To clean these cars there is a need for 2 labors and 600 labor minutes at S8 per hour; $80 of material and $60 energy per day. What is the labor productivity? (15 points) b. What is the multi-factor productivity? (15 points) Due to increase in demand, the manager of the Speedy Company has made several changes. After these changes, 3 labors are needed and each work for 480 labor minutes to clean 1000 cars. No more changes have been made. Considering all of these, calculate the new multi-factor productivity. (15 points) d. Calculate the productivity growth rate in multi-factor productivity. (15 points) e. Plot the MFP figures on a graph. (10 points) f. After changes have been made, assume that there is 5%inflation. Calculate the new multifactor productivity in case of 5% inflation. (10 points) g. Explain the scenario briefly. (20 points) Notes: 1) You are advised to use word program for the quizzes assigned. 2) If not, pages should be clearly written and numbered. 3) Your quiz will not be accepted without cover page. 4) Calculations with no explanations are not acceptable. 5) Identical papers will be penalized with null grade at the first attempt Good Luck Question: The case of fast car a. C. Speedy is a famous company with its fast car cleaning. Speedy cleans 600 cars per day. To clean these cars there is a need for 2 labors and 600 labor minutes at S8 per hour; $80 of material and $60 energy per day. What is the labor productivity? (15 points) b. What is the multi-factor productivity? (15 points) Due to increase in demand, the manager of the Speedy Company has made several changes. After these changes, 3 labors are needed and each work for 480 labor minutes to clean 1000 cars. No more changes have been made. Considering all of these, calculate the new multi-factor productivity. (15 points) d. Calculate the productivity growth rate in multi-factor productivity. (15 points) e. Plot the MFP figures on a graph. (10 points) f. After changes have been made, assume that there is 5%inflation. Calculate the new multifactor productivity in case of 5% inflation. (10 points) g. Explain the scenario briefly. (20 points) Notes: 1) You are advised to use word program for the quizzes assigned. 2) If not, pages should be clearly written and numbered. 3) Your quiz will not be accepted without cover page. 4) Calculations with no explanations are not acceptable. 5) Identical papers will be penalized with null grade at the first attempt Good Luck
