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Q: Answer-&lt;p&gt;&lt;span style=&quot;font-size: 11.0pt; line-height: 115%; font-family: &#039;Calibri&#039;...

The inputs that a firm uses in the production process are called factors of production. In order to produce output, a firm may require any number of different inputs.

Question

span >Which one of the following statement regarding Factor of Production is correct?

A It is the input that a firm uses in the production process.

B It is the output which is produced in the production process.

C It is the additional input that is required to achieve the maximum output.

D It is the ratio of the output to that of the input of the production process.

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span >Which one of the following statement regarding Factor of Production is correct?

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