D Labor: Raw Material: FOR Makes 1,200 tires per day with the following resources: 400 hours per day @ $12.50 per hour 20,000 pounds per day @ $1.00 per pound $5,250 per day $10,250 per day Energy: Capital: a) Labor productivity per labor hour for these tires = 3.00 tires/labor hour (round your response to two decimal places). b) Multifactor productivity for these tires= 0.0296 tires/dollar (round your response to four decimal places). -0% 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 change.

D Labor: Raw Material: FOR Makes 1,200 tires per day with the following resources: 400 hours per day @ $12.50 per hour 20,000 pounds per day @ $1.00 per pound $5,250 per day $10,250 per day Energy: Capital: a) Labor productivity per labor hour for these tires = 3.00 tires/labor hour (round your response to two decimal places). b) Multifactor productivity for these tires= 0.0296 tires/dollar (round your response to four decimal places). -0% 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 change.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 42P: A small company that shovels sidewalks and driveways has 100 homes signed up for its services this...

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