k: Chapter $1$

Question $2,$ Problem $1\mathrm{.}8$

Part $3$ of $3$

HW Score: $25\%,1$ of $4$ points

Points: $0$ of $1$

Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes $1,$

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Labor:

$400$ hours per day @ $$12\mathrm{.}00$ per hour

Raw Material:

$21,000$ pounds per day @ $$1\mathrm{.}50$ per pound

Energy:

$$5,250$ per day

Capital:

$$10,000$ per day

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 $=0\mathrm{.}0233$ tires$/$dollar $($round your response to four decimal places$).$ percentage rounded to two decimal places$).$

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