Asked by
Janzen Caponpon
on Nov 11, 2024Verified
In an iron and steel plant with 4 blast furnaces,40 laborers produce 160 tons of pig iron every day.The labor productivity in the firm is equal to _____.
A) 0.25 ton per worker
B) 4 tons per worker
C) 10 tons per worker
D) 0.1 ton per worker
E) 40 tons per worker
Labor Productivity
Output per unit of labor; measured as real GDP divided by the hours of labor employed to produce that output.
- Calculate labor productivity and understand its implications in economic contexts.
Verified Answer
RJ
Learning Objectives
- Calculate labor productivity and understand its implications in economic contexts.