Question: I keep getting the calculations for problem c) incorrect can you please show steps. Thanks! Lillian Fok is president of Lakefront Manufacturing, a producer of

I keep getting the calculations for problem c) incorrect can you please show steps. Thanks!
Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,200 tires per day with the following resources: Labor: Raw Material: 400 hours per day @ $12.00 per hour 21,000 pounds per day @ $1.00 per pound $5,000 per day $10,250 per day Energy: Capital: a) Labor productivity per labor hour for these tires = 3 tires/labor hour (round your response to two decimal places). b) Multifactor productivity for these tires = 0.0292 tires/dollar (round your response to four decimal places). 2. c) The percent change in multifactor productivity if Fok can reduce the energy bill by $950 per day without cutting production or changing any other inputs = % (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 changeStep by Step Solution
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