Question: Question Set 2 . For this question set, you will calculate labor productivity and multifactor productivity, both in tons of wheat produced per dollar value
Question Set For this question set, you will calculate labor productivity and multifactor productivity, both in tons of wheat produced per dollar value of inputs.
A Wheat Manufacturer employs field workers each working hours per week at a wage of $ and line workers each working hours per week at a wage of $
The business has capital expenses of $ per week and produces tons of rice per week.
Recently, the company decided to invest on additional equipment which increased the capital expenses by Also, the number of field workers was cut short by whereas line workers were more recruited. Both field and line workers were given a raise of and respectively. Due to the abovementioned changes, the new system reported to have an more output than the old system.
You will need the following formulas:
Labor productivity
Multifactor productivity
After copying the table below into Excel, solve the following questions and fill the table
tableOLD SYSTEM, CHANGE,NEW SYSTEMNumber of Field workers,
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