Reference no: EM132694025
Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,000 tires per day with the following resources:
Total output: 1000
Labor: 400 hours per day @ $12.50 per hour
Labor: 5000
Raw material: 20,000 pounds per day @ $1 per pound
Raw material: 20000
Energy: $5,000 per day
What is the labor productivity per labor-hour for these tires at Lakefront Manufacturing?
The labor productivity is 2.5 units per hour
Labor productivity = Total output / Total labor hours = 1000 / 400 = 2.5
What is the multifactor productivity for these tires at Lakefront Manufacturing?
The multifactor productivity is 0.025.
MFP = Output = 0.025
What is the percent change in multifactor productivity if Fok can reduce the energy bill by $1,000 per day without cutting production or changing any other inputs?
The percentage change is 2.56%.
MFP = Output = 0.0256
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