Suppose that an economy produces 300 units of output, employing the 50 units of input, and the price of the input is $9 per unit. the level of productivity and the per-unit cost of production are, respectively:

6 and $1.5

Explanation:

Productivity measure the ratio of output to input implied in the working or processing. Productivity tells us how much output we get against each unit of input.

The Level of Productivity can be determine by the Labor productivity equation, Which is as follow

Labor Productivity = Total output / Total input

In this question the input is 50 units and the output is 300 units, Placing these values in the equation

Labor Productivity = 300 / 50 = 6

Unit cost of production = Total cost / output = 50 x $9 / 300 = $450 / 300 units = $1.50 per unit

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