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Which of the following statements is correct? Select one correct answer. a. Diminishing average product of labour refers to the diminishing quality of goods produced.
Which of the following statements is correct? Select one correct answer.
a.
Diminishing average product of labour refers to the diminishing quality of goods produced.
b.
Average product of labour is the average quality of the goods produced by the workers.
c.
A production function describes the amount of output that will result for different combinations of inputs.
d.
Factors of production are the factories in which the goods are produced.
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