Assignment:
Please provide 200 to 300 word response to the following questions. Make sure you start each sub-question in a new paragraph. Remember to follow relevant citation rules.
What is average productivity? What is marginal productivity? Explain the relationship between average and marginal productivity. What would happen to average and marginal productivity if a technological innovation is introduced to the production process? How does the law of diminishing returns affect marginal and average productivity?
Please provide 200 to 300 word response to the following questions. Make sure you start each sub-question in a new paragraph. Remember to follow relevant citation rules.
Why is the demand of labor a derived demand? What is the relationship between productivity and the wages earned by employees where you work or at an organization with which you are familiar? What are some factors that determine the level of your income? Explain your answer