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Chapter 1, Problem 8P

a)

Summary Introduction

To determine: The labor productivity per labor hour of Company LF.

Introduction: Labor productivity is the valuation of economic growth in a nation. Labor production measures the amount of products produced within an hour;it especially evaluates labor productivity, that is, the amount of real gross domestic product (GDP) produced by a labor hour.

b)

Summary Introduction

To determine: Multifactor productivity of Company LF.

Introduction: Multifactor productivity is an evaluation of economic performance that compares the amount of products and services produced to the amount of combined input used to produce those products and services.

c)

Summary Introduction

To determine: The percentage change in multifactor productivity if the company reduces the energy bill by $1,000 per day.

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