Question 1: What is the relationship between average and marginal productivity?
Question 2: How do changes in average and marginal productivity affect the cost of production?
Question 3: What are the impacts of innovation and technology on the cost of production?
Question 4: Can you utilize a real-world example to explain the law of diminishing marginal productivity?
Why is the demand of labor a derived demand?
Question 5: What problems arise in determining whether an equal income distribution is fair or not? Can you give a real example you see or you heard to illustrate the problem?