1. Do you consider money as capital in economics? Why?) 2. Explain the difference between short-run and long-run analysis of production. Cite an example 3. Explain the law of diminishing marginal returns and give a numeral example. 4. Explain the relationship between Marginal Product (MP) and Average Product (AP) 5. The following is a production schedule of a certain firm. Fill the missing value for Average Product (AP) and Marginal Product (MP) Land Labor TP AP MP 1 0 0 1 1 6 2 16 24 1 4 30 5 34 6 34 7 32 1 8 26