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Discussion questions chap. 2 (fundamental questions how to produce) What are the advantages of using capital in the production process? What is meant by the

Discussion questions chap. 2 (fundamental questions "how to produce")

What are the advantages of using capital in the production process?

What is meant by the term "division of labor"?

Discuss the least cost method of production (economic efficiency).

Explain in detail use examples, data (if applicable), and facts to support your argument.

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