Using the given information, determine the current and expected single-factor and total productivity measures. Do not round intermediate calculations. Round your answers to three decimal places. Productivity Current (this year) Expected (next year) Labor Energy Material haircuts/dollar haircuts/dollar haircuts/dollar haircuts/dollar haircuts/dollar haircuts/dollar .28 3 haircuts/dollar Total haircuts/dollar What is the percentage change in total productivity? Do not round intermediate calculations. Round your answer to two decimal places.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Cindy Jo's Hair Salon is concerned about its rising costs of supplies, energy, and labor, so it is considering investing in better equipment, which hopefully will reduce the time required to perform most hairstyles as well as result in better perceived quality by
its customers. It predicts that the added investment will increase output levels as well as reduce energy costs, since some of the new equipment (hair dryers) use less electricity.
Labor
Energy
Material
Total
Hide Feedback
investment
Using the given information, determine the current and expected single-factor and total productivity measures. Do not round intermediate calculations. Round your answers to three decimal places.
Productivity Current (this year)
haircuts/dollar
Ⓡ
Incorrect
haircuts/dollar
Ⓡ
haircuts/dollar
.28 €
haircuts/dollar
Expected (next
year)
Ⓡ
haircuts/dollar
haircuts/dollar
Ⓡ
Inputs and Current (this Expected (next
Outputs
year)
year)
Hairstyles per
280
320
Labor costs per
$970
$1,020
M
Energy costs per
$420
$375
Material costs
$320
$340
$0
haircuts/dollar
.28
haircuts/dollar
week
week
week
per week
Capital
What is the percentage change in total productivity? Do not round intermediate calculations. Round your answer to two decimal places.
5.73%
$14,000
Check My Work
Transcribed Image Text:Cindy Jo's Hair Salon is concerned about its rising costs of supplies, energy, and labor, so it is considering investing in better equipment, which hopefully will reduce the time required to perform most hairstyles as well as result in better perceived quality by its customers. It predicts that the added investment will increase output levels as well as reduce energy costs, since some of the new equipment (hair dryers) use less electricity. Labor Energy Material Total Hide Feedback investment Using the given information, determine the current and expected single-factor and total productivity measures. Do not round intermediate calculations. Round your answers to three decimal places. Productivity Current (this year) haircuts/dollar Ⓡ Incorrect haircuts/dollar Ⓡ haircuts/dollar .28 € haircuts/dollar Expected (next year) Ⓡ haircuts/dollar haircuts/dollar Ⓡ Inputs and Current (this Expected (next Outputs year) year) Hairstyles per 280 320 Labor costs per $970 $1,020 M Energy costs per $420 $375 Material costs $320 $340 $0 haircuts/dollar .28 haircuts/dollar week week week per week Capital What is the percentage change in total productivity? Do not round intermediate calculations. Round your answer to two decimal places. 5.73% $14,000 Check My Work
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