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One of the principles of production includes that in order to produce goods and services which can be sold, and generate revenue and profits, a
One of the principles of production includes that in order to produce goods and services which can be sold, and generate revenue and profits, a firm must purchase or hire scarce inputs , which are its factors of production. product curves show the relationship between these additional factors of production such as labour or capital, and how much of a good is actually produced.
In terms of the above statement, examine the relationship between the different product curves?
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