A. What is the law of diminishing marginal productivity? Give an example from your workplace/household of the law of diminishing marginal productivity?.
a) Explain why is the demand of labor a derived demand?
b) Determine what is the relationship between productivity and the wages earned by an employee? What are some factors that determine the level of your income?
Explain, from a marketing perspective, why you would expect gross margin percentage, expenses-to-sales ratio, net profit margin, inventory turnover, and asset turnover to be different for a grocery store chain versus a department store chain.