Question: with steps Question 3: A specialty laboratory performs tab tests for the area hospitals. During its first two years of operation the following measurements were

with steps

Question 3: A specialty laboratory performs tab tests for the area hospitals. During its first two years of operation the following measurements were gathered: Year 1 Year 2 Measurement Price per test (5) 45 Annual tests 10811 13762 Total labor Hours 8667 hours 13464 hours 8.500 Material costs (5) Overhead cost (5) 8 000 12 000 12 500 The labor cost for year 1 was equal to 1525/hour. However due to COVID 19, the labor cost decreased by 355/hour for year 2 Answer: Answer Question 3 here: (a) Calculate the multi factor productivity for year 1 (b) Calculate the multi-factor productivity for year 2 (c) Calculate the multi-factor productivity Growth. Comment the results

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