Lillian Fok President Lakefront Manufacturing Producer Bicycle Tires Fok Makes 1 200 Tires Q34302925

Lillian Fok is president of Lakefront​ Manufacturing, a producerof bicycle tires. Fok makes 1,200

tires per day with the following​ resources:

                                                                                                      

​Labor:

425 hours per day ​@ $12.00 per hour

Raw​ Material:

21,000 pounds per day​ @ $1.00 per pound

​Energy:

​$5,250 per day

​Capital:

​$10,250 per day

​Labor productivity per labor hour for these tires​ = 2.82tires/labor hour
Multifactor productivity for these tires​ = 0.0288 ​tires/dollar​

A) The percent change in multifactor productivity ifFok can reduce the energy bill by $950 per day without cuttingproduction or changing any other inputs​ = _______ ​(enter yourresponse as a percentage rounded to two decimal​ places).​Note:calculate the new multifactor productivity to four decimal placesbefore calculating

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