Consider a company that uses 25 hours of labor, 10 pieces of lumber, and 2 boxes of nails to create 4 wooden chairs. Employees are paid $20/ hour. Lumber costs $100 per piece, and each box of nails costs $50. The company sells the chairs for $500 each.
a. Calculate the company's labor productivity.
b. Calculate the company's multi-factor productivity for labor and lumber