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(1) Multi-factor Productivity A company is producing three products with the following sales and production data: Product 1 Product 2 Product 3 Weekly sales 2 units 4 units 6 units Unit Price $350 $450 $500 Labor requirements 1.5 hours per unit 1 hour per unit 0.75 hour per unit Labor cost $40 per hour $40 per hour $40 per hour The current multi-factor productivity for all products == 2.2 a) Please calculate the labor productivity for each product on a weekly basis, i.e. the ratio: output cost / labor cost (5%) b) Calculate the average cost per product based on current multi-factor productivity (10%) [Hint: you can just assume there are a total of 12 units produced per week] c) Based on (b), please find the multi-factor productivity for each product (20%) d) Which product has the highest multi-factor productivity and labor productivity? (5%) (1) Multi-factor Productivity A company is producing three products with the following sales and production data: Product 1 Product 2 Product 3 Weekly sales 2 units 4 units 6 units Unit Price $350 $450 $500 Labor requirements 1.5 hours per unit 1 hour per unit 0.75 hour per unit Labor cost $40 per hour $40 per hour $40 per hour The current multi-factor productivity for all products == 2.2 a) Please calculate the labor productivity for each product on a weekly basis, i.e. the ratio: output cost / labor cost (5%) b) Calculate the average cost per product based on current multi-factor productivity (10%) [Hint: you can just assume there are a total of 12 units produced per week] c) Based on (b), please find the multi-factor productivity for each product (20%) d) Which product has the highest multi-factor productivity and labor productivity? (5%)