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Consider an economy that produces the single good output with two factors of production, land (T) and labor (L) An Economy's Production Function Output, Q

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Consider an economy that produces the single good "output" with two factors of production, land (T) and labor (L) An Economy's Production Function Output, Q The figure to the right shows how output varies with changes in the amount of labor employed, holding the amount of land fixed. From this production function {Q(T,L)} it can be ascertained that an out-migration Q(T,L) of labor will O A. decrease output and increase the real wage. O B. decrease both output and the real wage. O C. decrease output but leave the real wage unchanged. O D. increase both output and the real wage. Labor, L

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