The work force of a certain factory is growing at rate of 2 per month while the average productivity of a worker is growing at a rate of 4 units per month. If the work force is currently 100 and the average productivity per month is 200 units, at what rate is the total productivity per month of the factory increasing? (a) What happens if the work force is declining by 2 per month? (b) What happens if the average productivity is decreasing by 5 per month?
The work force of a certain factory is growing at rate of 2 per month while the average productivity of a worker is growing at a rate of 4 units per month. If the work force is currently 100 and the average productivity per month is 200 units, at what rate is the total productivity per month of the factory increasing? (a) What happens if the work force is declining by 2 per month? (b) What happens if the average productivity is decreasing by 5 per month?
Chapter16: Labor Markets
Section: Chapter Questions
Problem 16.3P
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The work force of a certain factory is growing at rate of 2 per month while the average productivity of a worker is growing at a rate of 4 units per month. If the work force is currently 100 and the average productivity per month is 200 units, at what rate is the total productivity per month of the factory increasing?
(a) What happens if the work force is declining by 2 per month?
(b) What happens if the average productivity is decreasing by 5 per month?
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