Blake&Sons run a business of manufacturing animal trackers in Lansing, Michigan. It employs a total of 60 workers for $30 per hour wage rate. Expenses incurred on materials including metal and wiring sum up to $2800. Miscellaneous costs like energy and infrastructure are half of material costs. In January, the firm produced 10,000 trackers, with each employee working for 10 hours. If each tracker is sold for $20, find the following: a) Labor productivity per hour b) Labor productivity per dollar c) Multifactor productivity (Output income) d) Multifactor productivity (Output units)

Blake&Sons run a business of manufacturing animal trackers in Lansing, Michigan. It employs a total of 60 workers for $30 per hour wage rate. Expenses incurred on materials including metal and wiring sum up to $2800. Miscellaneous costs like energy and infrastructure are half of material costs. In January, the firm produced 10,000 trackers, with each employee working for 10 hours. If each tracker is sold for $20, find the following: a) Labor productivity per hour b) Labor productivity per dollar c) Multifactor productivity (Output income) d) Multifactor productivity (Output units)

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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