Question

Suppose that an economy produces 2,400 units of output, employing 60 units of input, and the price of the input is $30 per unit. the level of productivity in this economy is:_________

Answer 1

an economy produces 2,400 units of output, employing 60 units of input, and the price of the input is $30 per unit. the level of productivity in this economy is 40

What is productivity?

• It is possible to study patterns in salary growth, wage levels, and technical advancement by further segmenting labor productivity.
• Productivity increase is directly related to corporate earnings and shareholder returns.
• Productivity is a measure of a company's production process efficiency at the corporate level.
• It is calculated by comparing the number of units produced to employee labor hours or by comparing the company's net sales to employee labor hours.
• Productivity is calculated as a company's output divided by the units utilized to produce that output.
• In the workplace, productivity simply refers to how much "work" is completed in a given amount of time.

To learn more about productivity with the given link

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