Question: Data from a local construction firm are shown below: Year 1 Year 2 Revenue $15.9 million $19.3 million Labor (hours) 39,000 46,250 All input costs

Data from a local construction firm are shown below:

	Year 1	Year 2
Revenue	$15.9 million	$19.3 million
Labor (hours)	39,000	46,250
All input costs (includes labor)	$10.25 million	$12.9 million

The partial factor productivity with respect to labor (in dollars of output per hour of labor) for Year 1 is approximately

Referring to the local construction firm example above, the total factor productivity (in dollars of output per dollar of input) for Year 2 is approximately:

Referring to the local construction company example above, the annual percentage change in labor productivity from Year 1 to Year 2 is approximately:

Referring to the local construction company example above, the annual percentage change in total factor productivity from Year 1 to Year 2 is approximately:

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