Answer:
Relative to their productivity in 2017, their 2018 productivity was 15% higher
Explanation:
what this question requires us to do essentially is to find the difference between the productivity of 2017 and 2018, and for representation of change in market factors, percentages are most appropriately used. Hence, it is calculated as:
2017 productivity = $400,000
2018 productivity = $460,000
difference = 460,000 - 400,000 = 60,000
Next, since we got a difference of $60,000, we will determine what percentage of the 2017 productivity ($400,000) is $60,000, and this is done as follows:
X% of 400,000 = 60,000
X/100 × 400,000 = 60,000
4000X = 60,000
X = 60,000 ÷ 4000 = 15%
Therefore, the productivity of 2018, was 15% higher, relative to 2017 productivity.
