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Units Produced Labor (hours) Resin (pounds) Capital Invested ($) Energy (BTU) Last Year 1,000 300 55 10,000 2,950 Now 1,000 250 48 12,500 2,500 roductivity change for each of the inputs (Labor, Resin, Capital, and Energy) is: r Productivity Change = 20.12 % (enter your response as a percentage rounded to two decimal places and include a minus sign if necessary). n Productivity Change = % (enter your response as a percentage rounded to two decimal places and include a minus sign if necessary).

Units Produced Labor (hours) Resin (pounds) Capital Invested ($) Energy (BTU) Last Year 1,000 300 55 10,000 2,950 Now 1,000 250 48 12,500 2,500 roductivity change for each of the inputs (Labor, Resin, Capital, and Energy) is: r Productivity Change = 20.12 % (enter your response as a percentage rounded to two decimal places and include a minus sign if necessary). n Productivity Change = % (enter your response as a percentage rounded to two decimal places and include a minus sign if necessary).

Economics (MindTap Course List)
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter21: Production And Costs
Section21.5: Production And Costs In The Long Run
Problem 1ST
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George Kyparisis makes bowling balls in his Miami plant. With recent increases in his costs, he has a newfound interest in efficiency. George is interested in determining the productivity of his organization. He would like to know if his organization is maintaining the manufacturing average of a 3% increase in productivity. He has the following data representing a month from last year and an equivalent month this year: Units Produced Labor (hours) Resin (pounds) Capital Invested ($) Energy (BTU) Last Year 1,000 300 55 10,000 2,950 Now 1,000 250 48 12,500 2,500 The productivity change for each of the inputs (Labor, Resin, Capital, and Energy) is: Labor Productivity Change = 20.12 % (enter your response as a percentage rounded to two decimal places and include a minus sign if necessary). Resin Productivity Change =% (enter your response as a percentage rounded to two decimal places and include a minus sign if necessary).
Transcribed Image Text:George Kyparisis makes bowling balls in his Miami plant. With recent increases in his costs, he has a newfound interest in efficiency. George is interested in determining the productivity of his organization. He would like to know if his organization is maintaining the manufacturing average of a 3% increase in productivity. He has the following data representing a month from last year and an equivalent month this year: Units Produced Labor (hours) Resin (pounds) Capital Invested ($) Energy (BTU) Last Year 1,000 300 55 10,000 2,950 Now 1,000 250 48 12,500 2,500 The productivity change for each of the inputs (Labor, Resin, Capital, and Energy) is: Labor Productivity Change = 20.12 % (enter your response as a percentage rounded to two decimal places and include a minus sign if necessary). Resin Productivity Change =% (enter your response as a percentage rounded to two decimal places and include a minus sign if necessary).
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