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Suppose that weekly output is worth $1000, and labor and materials costs are $300 and $200,respectively. What is the multifactor productivity ratio? a. 1000b. 8c. 2d. 3e. 0.5

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ijaz4308

Answer:

c. 2

Explanation:

The multifactor  productivity ratio can be determined using the below mentioned formula:

Multi factor productivity=Output worth/cost of material+cost of labor

In the given question:

Output worth=$1,000

cost of material+cost of labor=$300+$200=$500

Multifactor productivity=$1,000/$500=2

So based on the above calculation, the answer is c. 2

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