Homework:HW $1$

Question $1,$ Problem $1\mathrm{.}8-$ Bookmatch

Part $3$ of $3$

HW Score: $86\mathrm{.}67\%,8\mathrm{.}67$ of $10$ points

Points: $0\mathrm{.}67$ of $2$

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Question $1$

Question $2$

Question $3$

Question $4$

Question $5$

Question $6$

Question $7$

Question $8$

Question content area

Part $1$

Lillian Fok is president of Lakefront$$ Manufacturing, a producer of bicycle tires. Fok makes $1$ comma $000$ tires per day with the following$$ resources:

$$

$$Labor:

$400$ hours per day $$@$$ $$12\mathrm{.}50$ per hour

Raw$$ Material:

$20$ comma $000$ pounds per day$$ @ $$$$1\mathrm{.}00$ per pound

$$Energy:

$$$$5$ comma $000$ per day

$$Capital:

$$$$10$ comma $000$ per day

Part $2$

Labor productivity per labor hour for these tires$=$

$$

$2\mathrm{.}5$tires$/$labor hour $($round your response to two decimal$$ places$).$

Part $3$

Multifactor productivity for these tires$=$

$$

$0\mathrm{.}025$tires$/$dollar $($round your response to four decimal$$ places$).$

Part $4$

The percent change in multifactor productivity if Fok can reduce the energy bill by $$$$1$ comma $000$ per day without cutting production or changing any other inputs$=$

$$

$7\mathrm{.}2\%($enter your response as a percentage rounded to two decimal$$ places$).$

$$Note: calculate the new multifactor productivity to four decimal places before calculating the percentage change.