On Aug 28, 2023 the Factory Efficiency Index (FEI) closed at 10,572.02; the day before it closed at 10,583.96. Which of the following statements about that performance is/are true? FEI rose 11.94 basis points FEl fell 0.11 basis points FEl fell 11.94 basis points FEl fell 11 basis point FEl rose 11 basis points
On Aug 28, 2023 the Factory Efficiency Index (FEI) closed at 10,572.02; the day before it closed at 10,583.96. Which of the following statements about that performance is/are true? FEI rose 11.94 basis points FEl fell 0.11 basis points FEl fell 11.94 basis points FEl fell 11 basis point FEl rose 11 basis points
Chapter1: Making Economics Decisions
Section: Chapter Questions
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On Aug 28, 2023 the Factory Efficiency Index (FEI) closed at 10,572.02; the day before it closed at 10,583.96. Which of the following statements about that performance is/are true?
FEI rose 11.94 basis points
FEl fell 0.11 basis points
FEl fell 11.94 basis points
FEl fell 11 basis point
FEl rose 11 basis points
Expert Solution
Step 1: Define Factory Efficiency index(FEI)
The factory efficiency index is defined as an index that is used to measure the efficiency level of the factory. A factory is said to be efficient when the cost of production is less and the profits are more. The higher the FEI more efficient the factory is said to be.
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