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Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,200 ti

Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,200 tires per day with the foll

Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,200 tires per day with the following resources: 425 hours per day@ $12.00 per hour $1.50 per pound Labor: Raw Material 21,000 pounds per day Energy: Capital: $5,250 per day $10,250 per day a) Labor productivity per labor hour for these tires 2.82 tires/labor hour (round your response to two decimal places). b) Multifactor productivity for these tires 0.023 tires/dollar (round your response to four decimal places) c) The percent change in multifactor productivity Fok can reduce the energy bill by $950 per day without cutting production or changing any other inputs- your response as a percentage rounded to two decimal places) % enter Note: calculate the new multifactor productivity to four decimal places before calculating the percentage change.

Apr 22 2020 View more View Less

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