Question
Lillian Fok is president of Lakefront​ Manufacturing, a producer of bicycle tires. Fok makes
1,000
tires per day with the following​ resources:
                                                                                                      
​Labor:
400
hours per day ​@
​ $12.50
per hour
Raw​ Material:
21,000
pounds per day​ @
​$1.00
per pound
​Energy:
​$5,000
per day
​Capital:
​$10,000
per day
​a) Labor productivity per labor hour for these tires​ =
2.52.5
​tires/labor hour ​(round your response to two decimal​ places).
​b) Multifactor productivity for these tires​ =
0.02440.0244
​tires/dollar ​(round your response to four decimal​ places).
​c) 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​ =
nothing​%
​(enter your response as a percentage rounded to two decimal​ places).

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