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Student tuition at University of Toronto is $150 per semester credit hour. The province supplements school revenue by $100 per semester credit hour. Average class size for a typical 3 credit course is 50 students. Labour costs are $4000 per class, material costs are $20 per student per class, and overhead costs are $25000 per class.
A) What is the multifactor productivity ratio for this course process?
B) If instructor work an average of 14 hours per week for 16 weeks for each 3 credit class of 50 students, what is the labour productivity ratio (in $/hour)
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