Operations Management: Single-Factor & Multi-Factor Productivity

This video demonstrates how to calculate single-factor productivity for one productive factor as well as multi-factor productivity with four factors of production.

NOTE: At 2:40 there is an error in the video and the correct MFP should be $0.025 tires per dollar, and NOT $0.25. I was off by a decimal place however the final result is correct because I was consistent in my use of the incorrect amount in the rest of the video.
(0.02564 ÷ 0.025) – 1 = 0.0256 which is 2.56%.

• #education
• #operations_management
• #single_factor_productivity
• #productivity
• #multi_factor_productivity