This week's discussion is a little different than before. There are many core topics that one must know from every chapter. For this chapter, five core questions are the following. For the discussion this week, please answer each of them within 100 words. Knowing them actually better prepares you for the future chapters/exams/courses. It is due 10/22 end of the day.

1. Define marginal cost of production in words. Please don't just provide the formula, a formula is not a definition.
2. Define marginal product of labor. Please don't just provide the formula, a formula is not a definition.
3. How do economists define long-run and short-run?
4. If average cost and quantity are given, how would you find the total cost of production?
5. What is the law of diminishing marginal productivity of a factor of production?