Question: Output 10,000 Units Produced Sold for $10/unit Input 1: 500 labor hours Labor rate: $9/hr Input 2: Cost of raw material: $5,000 Input 3: Cost

Output

10,000 Units Produced

Sold for $10/unit

Input 1:

500 labor hours

Labor rate: $9/hr

Input 2:

Cost of raw material: $5,000

Input 3:

Cost of purchased material: $25,000

MFT=2.9

A) If, beginning 2024, the labor cost is reduced by 5% every year until 2030, what will be the trend of multifactor productivity growth between 2024 and 2030? Please discuss the results.

B) If the leadership aims to keep 2% MFP annual growth between 2024 and 2030, how much the labor cost must change (in $ and in %) during 2024 and 2030 to main such constant growth. discuss the results

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