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Consider - a small manufacturing company which produces high quality furniture has provided the following data:
2000 2001
Output: (cost of sales) $2.2m $3.5m
Inputs:
Labour $1m $1.5m
Material and supplies $0.8m $1.25m
Capital equipment depreciation $0.07m $0.48m
Compare all partial factor and total factor productivity for 2000 and 2001.
What conclusions do you draw?
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