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timer Asked: Aug 20th, 2015

Question description

Suppose that 20 workers were required in 2010 to produce 120,000 bushels of wheat on a 1,000-acre farm.

a. What is the average output per acre?  bushels per acre

What is the average output per worker?  bushels per worker

b. If in 2020 only 16 workers produce 132,000 bushels of wheat on that same 1,000-acre farm, what will be the average output per acre? What will be the average output per worker?

 bushels per acre

 bushels per worker

c. By what percentage does productivity (output per worker) increase over those 10 years?

Instructions: Round your answer to one decimal place.

Over those 10 years, what is the average annual percentage increase in productivity?

Instructions: Round your answer to two decimal places.

 % per year

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