7. The idea that business demand comes from a demand for consumer goods is referred to as
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Based on the labor cost, and output of the process, the multifactor productivity for the week is 3.06.
<h3>What is the multifactor productivity for Week 1?</h3>This can be found by the formula:
= Cost in week 1 / Value of output in week 1
Cost in week 1:
= Labor + Material + Overheads
= 12,195 + 21,392 + 8,546
= $42,133
Value of product:
= 110 x 1,173 units
= $129,030
Multifactor productivity is:
= 129,030 / 42,133
= 3.06
Find out more on multifactor productivity at brainly.com/question/17550779.
