Question: 1. The table below presents some data for firm X and firm Y that manufacture the same product. Factor Production quantity (unit/year) The number of

1. The table below presents some data for firm X

1. The table below presents some data for firm X and firm Y that manufacture the same product. Factor Production quantity (unit/year) The number of labors Labour Wage ($/hour) Capital Cost ($/year) Labor hour (hour/year) Firm X 200000 240 5 150000 2000 Firm Y 160000 500 1.5 100000 2000 Overhead expenses are 50% of the labor cost. a) Calculate the labor, capital and total factor productivity of these firms? b) If you have a chance to buy one of these two firms, which one would you prefer

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