Productivity Mesourement, Technical and Allocative Efflooncy, Partial Measures same $24,000$ units of output using ofther of the following two combinations of inputs: The cost of materials is $\backslash (\backslash$$ $8\backslash )$ per pound; the cost of labor is $\backslash (\backslash$$ $12\backslash )$ per hour. Required: $1.$ Compute the output$-$input ratio for each input of Combination F$1.$ If required, round your answers to two decimal places. Materials Labor $\backslash (\backslash$checkmark $\backslash )$ Does this represent a productivity improvement over the current use of inputs? Yes $\backslash (\backslash$checkmark $\backslash )$ What is the total dollar value of the improvement? $\backslash$$ Classify this as a technical or an allocative effloency improvement. Technical efficiency $\backslash (\backslash$checkmark $\backslash )2.$ Compute the output$-$input ratio for each input of Combination F$2.$ If required, round your answers to two decimal places. Materials $\backslash (\backslash$checkmark $\backslash )$ Labor $\backslash (\backslash$downarrow $\backslash )$ Doss this represent a productivity improvement over the current use of inputs? Yes Now, compare these ratios to those of Combination F$1.$ What has happened? F$2$ has lever $\backslash (\backslash$quad $\backslash$checkmark $\backslash )$ productivity for materials and higher $\backslash (\backslash$quad $\backslash$checkmark $\backslash )$ productivity for labor. $3.$ Compute the cost of producing $24,000$ units of output using Combination F$1.\backslash$$ Compare this coat to the cost using Combination F$2.$ Coat of Combination F$1\backslash (\backslash$$$[\backslash )$ Cost of Combination F$21,036,800$ Diffarence