Make-Do, a national automotive painting service, paints cars for $199. Their work standard for such a job is $20.00 for labor and $30.00 for paint. They consume $10 worth of supplies and $3 of energy during their service. What is their total factor productivity

The factor productivity of the firm is 3.16.

Explanation:

The total factor productivity can be calculated using the following formula:

Factor Productivity = Total Output ($) / Total Input ($)

Here input cost is labor cost $20, paint cost $30, supplies cost $10 and the energy cost $3 which are incurred to earn $199 (Output cost). So by putting the values in the equation, we have:

Factor Productivity = $199 / ($20+$30+$10+$3)

Factor Productivity = 3.16

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