Make-Do, a National Automotive Painting Service, Paints Cars for $199

question 89

Multiple Choice

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?

• A) 3.16
• B) 9.95
• C) 5.83
• D) 13.6
• E) 18.24

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Definitions:

Decrease in Demand

occurs when consumers are less willing to purchase a product or service at all price levels, often visualized as a leftward shift of the demand curve.

Equilibrium Price

The market price at which the quantity demanded of a product equals the quantity supplied, leading to a stable market condition.

Price-Quantity Combination

A specific point on a supply or demand curve at which a certain quantity of goods is supplied or demanded at a particular price.

Independent Plans

are strategies or courses of action devised and executed autonomously by an individual, organization, or country without external control or influence.