Determine the multifactor productivity with dollars

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As part of a study for the Department of Labor Statistics, you are assigned the task of evaluating the improvement in productivity of small businesses. Data for one of the small businesses you are to evaluate is shown below. The data are the monthly average of last year and the monthly average this year. Cost Data Labor $10 per hour Capital Investment 0.85% per month Energy $0.75 per Btu Usage Data Last Year This Year Production (dozen) 1,000 1,100 Labor (hours) 390 410 Capital investment ($) $10,000 $12,000 Energy (BTU) 4,000 4,100 a) Determine the multifactor productivity with dollars as the common denominator for last year. (Round your response to three decimal places and include the units in your answer) b) Determine the multifactor productivity with dollars as the common denominator for this year. (Round your response to three decimal places and include the units in your answer.) c) Determine the percent change in productivity for the monthly average last year versus the monthly average this year on a multifactor basis. (Round your response to one decimal place and include the units in your answer.)

Reference no: EM132280643

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