Relationship between average-marginal productivity


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?

Question 5: Why is the demand of labor a derived demand?

Question 6: 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?

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Accounting Basics: Relationship between average-marginal productivity
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