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CalculusQ&A LibraryProblem 1.8EQuestLillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,200 tires per day with the following resources:Labor.400 hours per day @ $12.00 per hour21,000 pounds per day @ $1.00 per pound$5,000 per day$10,000 per dayRaw Material:Energy:Capital:a) Labor productivity per labor hour for these tiresnd your response to two decimal places).b) Multifactor productivity forsponse to four decimal places).c) The percent change in multifactor productivity if Fok can reduce the energy bill by $950 per day without cutting production or changing any other inputs =% (enter your response as a percentage rounded to two decimal places).Note: calculate the new multifactor productivity to four decimal places before calculating the percentage change.Enter your answer in the answer box and then click Check Answer.Dheck AnwerClear AllAll parts showing8:22 PM1/8/2020Type here to searchQuestion

Asked Jan 9, 2020

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Step 1

Given:

Lilian Fok is president of Lakefront Manufacturing, a producer of bicycle tire. For makes 1,200 tires per day with the following resources:

Labor: 400 hours per day @ $12.00 per hour

Raw Material: 21,000 pounds per day @ $1.00 per sound

Energy: $5000 per day

Capital: $10,000 per day

Step 2

[a]: Find the labor productivity per hour labor hour for these tires:

Step 3

[b]: find the multifact...

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