STSTEER

Total Factor Productivity

Recovering a firm's total factor productivity A from its production function and either its output or the input prices it faces.

Question template

Consider a bicycle workshop that services racing bikes. The bicycle workshop has a linear technology: its weekly output, in services, is Q = pfunc, where L is the number of hours of mechanic labor and K the number of hours of workstand time used per week, and A is total factor productivity. Last week the bicycle workshop used labor hours of mechanic labor and capital hours of workstand time and produced output services. What is the value of A? Round to two decimals.

Use it

from datasets import load_dataset
ds = load_dataset("narunraman/steer_me", "finding_tfp")