Question: A company has improved its production process. Under the old process, 19 workers could produce 4,732 units per hours and the materials cost $54 per


A company has improved its production process. Under the old process, 19 workers could produce 4,732 units per hours and the materials cost $54 per unit of output. Workers are paid $17 per hour and the finished product is sold for $128 per unit. After the improvement, materials costs have been reduced by $14 per unit of output and it now takes 2 fewer workers to make the same amount of output. What is the percentage change in multifactor productivity? (do not use a \% sign, e.g. enter 50% as .5) I suggest you use excel for homework assignments. You will be able to see exactly what calculations you did, which will help in finding any mistakes. Also, any subsequent attempts will go faster because your formulas will already be entered -- you'll just need to update the numbers. You can cut and paste your answers into canvas, which will automatically round your answer to four decimal places. If you are doing the calculations by hand, use at least six decimal places to avoid rounding errors
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