Problem 1.1 E Question Help As part of a study for the Department of Labor Stati

Question

Problem 1.1 E Question Help As part of a study for the Department of Labor Statistics, you are assigned the task of evaluating the improvenent in productivity of small businesses. Data for one of the small businesses you are to evaluate is shown below. The data are the monthly average of last year and the monthly average this year Labor $11 per hour Capital 0 82% per month of investment Energy S0.45 per BTU Click the icon to view the data for one of the small businesses you are to evaluate a) Determine the multifactor productivity with dollars as the common denominator for last year The multifactor productivity with dollars as the common denominator for last year is zen/s (Round your response to three decimal places) More Info Production (dozen) Labor (hours) Capital investment LAST YEAR 2.000 400 20.000 THIS YEAR 2.000 370 22,000 3.600 800 Enter your answer in the an Print Done 2 partaining 16 PM

Explanation / Answer

Multifactor productivity = Output / Input

= Production (dozens) / Total cost ($)

Where, Total cost = Labor cost + Capital cost + Energy cost

Multifactor productivity for last year = 2000 / (400*11 + 3800*0.45 + 20000*0.82%)

= 0.319 dozen/$

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.