Answer this Question for my midterm please?

timer Asked: Jun 3rd, 2015

Question description

As part of a study for the Department of Labor Statistics, you are assigned the task of evaluating the improvement in productivity of 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. Determine the multifactor productivity using the following costs:

 Labor: $8 per hour;

 Capital: 0.83% per month of investment;

 Energy: $.60 per BTU.

Monthly Average

Last Year this year

Production (dozen) 1,500 1,500

Labor (hours) 350 325

Capital Investment ($) 15000 18,000

Energy (BTU)  3,000 2,750

last year the multi factor production was______ dozens/$ round your response to three decimal place

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