Analysis Problem Problem 4) A company wants to evaluate its labor and multi-factor productivity with a new computerized title search system. The company has a staff of four, each working eight hours per day for a payroll cost of $640 / day) and overhead expenses of $400 per day. Collins processes and closes on 8 titles each day. The new computerized title search system will allow the processing of 14 titles per day. Although the staff, their work hours, and pay are the same, the overhead expenses are now $800 per day. Calculate the change in productivity. Problem 5) A hamburger factory produces 50,000 burgers each week. The equipment costs $5,000 and will remain productive for three years. The annual labor cost is $8,000. a) What is the productivity as measured in units of output per dollar of input over a 3 year period? b) Management has the option of $10,000 equipment, with an operating life of five years. It would reduce labor costs to $4,000 per year. Should management purchase this equipment (using productivity arguments alone)