Question

a company produces 693 units of output per hour using 17 workers, who are paid $9 per hour. finished units sell for $83 each. what is the productivity of labor in dollars per worker

Answer 1

The productivity of labor in dollars per worker is $331.35

Step-by-step explanation:

The productivity of labor in dollars per worker can be calculated by dividing the total output per hour by the number of workers and then multiplying by the selling price of each unit. In this case, the company produces 693 units of output per hour and there are 17 workers. So, the productivity of labor per worker is:

(693 units/hour / 17 workers) * $83/unit = $331.35/worker

Therefore, the productivity of labor in dollars per worker is $331.35.