Q1. Professional sports players are generally paid much more than farmers, factory workers, engineers also teachers. The marketplaces for the professional sports players, farmers, factory workers and engineers also teachers are generally competitive. Even among professional sports players and salaries of players in some sports are generally significantly higher than the salaries of players in some other sports. Elucidate how does this make sense using supply also demand in a marketplace in equilibrium?

Q2. Illustrate what is the marginal benefit from consuming a 3rd burrito at $1.50 as opposed to 1 burrito at $2.50.