QUANTITATIVE: Consider various financial data for Borchers Manufacturing for 2016 & 2017:

		2016	2017
Output	Sales (units)	107,000	104,000
Financial	Cost of Goods	$240,000	$320,000
	Sales price ($)	$5	$6
	Average Inventory ($)	$ 27,000	$ 34,000
Input	Labor ($)	$ 25,000	$ 28,000
	Labor (hrs)	1,400 hrs	1,700 hrs
	Electric Bill ($)	$ 1,000	$1,200
	Electric Bill (kilowatts)	10,000	12,000

1. What is labor productivity (using labor hours as input and sales in units as output) for 2016 and 2017? What are the units of this number (e.g. $s, hours, etc.)? What is the percentage change from 2016 to 2017?
2. What does the answer to a. say about the firms labor efficiency moving from 2016 to 2017? Has it improved or declined?
3. Calculate multifactor productivity for 2016 expressed in units per dollar of input. Use all inputs for which you have dollar amounts.