Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,200 tires per day with the following resources: Labor: Raw Material: Energy: Capital: 425 hours per day @ $12.50 per hour 20,000 pounds per day @ $1.50 per pound $5,000 per day $10,250 per day a) Labor productivity per labor hour for these tires = decimal places). D tires/labor hour (round your response to two b) Multifactor productivity for these tires = tires/dollar (round your response to four decimal places). c) The percent change in multifactor productivity if Fok can reduce the energy bill by $1,000 per day withou cutting production or changing any other inputs =% (enter your response as a percentage rounded to two decimal places). d) The overall total input (not reduction) for a 4% increase in multifactor productivity = (round to nearest integer) Note: calculate the new multifactor productivity to four decimal places before calculating the percentage change.
Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes
1,200 tires per day with the following resources:
|
Labor: |
425 hours per day @ $
12.50 per hour |
|
Raw Material: |
20,000 pounds per day @ $
1.50 per pound |
|
Energy: |
$
5,000 per day |
|
Capital: |
$
10,250 per day |
a) Labor productivity per labor hour for these tires =
enter your response here
tires/labor hour (round your response to two decimal places).
b) Multifactor productivity for these tires =
enter your response here
tires/dollar (round your response to four decimal places).
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 here
% (enter your response as a percentage rounded to two decimal places).
d) The overall total input (not reduction) for a
4% increase in multifactor productivity =
enter your response here
(round to nearest integer)
Note: calculate the new multifactor productivity to four decimal places before calculating the percentage change.
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