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.
Labor $6 per hour;
Capital 0.78% per month of investment;
Energy 0.85 per BTU.
a) Determine the multi factor productivity with dollars as the common denominator for last year.
The multifactor productivity with dollars as the common denominator for last year is (??) ?dozen/$. ?(Round your response to three decimal? places.)
b) Determine the multifactor productivity with dollars as the common denominator for this year.
The multifactor productivity with dollars as the common denominator for this year is (??) dozen/$. ?(Round your response to three decimal places.)
c) Determine the percent change in productivity for the monthly average last year versus the monthly average this year on a multifactor basis.
The percent change in productivity for the monthly average is (??) ?%.
(Round your response to one decimal place.)