Question: use www.bls.govunder MultifactorProductivity from the Subject drop-down menu. Multifactor productivity increases 1.0% in 2018, following a 0.4% increase in 2017 What has been the general

use www.bls.govunderMultifactorProductivityfrom the Subject drop-down menu.

Multifactor productivity increases 1.0% in 2018, following a 0.4% increase in 2017

  1. What has been the general trend for multi-factor productivity in the U.S. over the past 15 years?
  2. What does this trend suggest has happened to production functions in the U.S.?
  3. Assuming this change in productivity has happened to all firms, how will this change in productivity affect cost curves?

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