Please solve the following problems related to Productivity (Chapter 2) 1. The weekly output of a fabrication process is shown below together with data for labor and material costs. Overhead is charged weekly at the rate of 1.5 times direct labor cost. Assume a 40-hour week and an hourly wage of $30. (1) What is the multifactor productivity for each of the three weeks? (2) Based on your computation of (1), what is the growth rate (in percentage) of multifactor productivity from week 1 to week 2 and week 2 to week 3? Week No. of workers Material costs 9 Output 52,000 56,000 57,000 2 10 19,000 22,000 23,000 3 8 Hint: Please read page 56-59 on productivity and Example 3 and Problems 1-4 (page 63- 64) of Chapter 2 in the textbook