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Question 2 (1 point) Consider the markets for factors of production, such as labor, capital, land, and entrepreneurship. Select the statementls} that is/are correct. Select

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Question 2 (1 point) Consider the markets for factors of production, such as labor, capital, land, and entrepreneurship. Select the statementls} that is/are correct. Select 2 correct answertsl C] (a) the services of all factors of production are traded in factor markets, which determine their factor prices C] (b) a labor market is a collection of individuals and firms who trade labor services, which are the physical and mental work efforts that individuals and businesses supply to produce goods and services C] (c) a market for capital services is a rental market, in which human capital including the entrepreneurial knowledge and talent is hired [3 (d) a market for land is the market for services of land, which constitute the use of land; the commodity prices of natural resources that are the gifts of nature that the land consists of are determined in global commodity markets

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