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Problem

1. Consider the factors of production that go into a fast-food restaurant. Give an example of land, labor, and capital.

2. Suppose an auto manufacturer has one factory in the United States and one in Mexico. The auto manufacturer produces the same number of cars and the same models in each factory but hires more workers in Mexico than in the United States. Give an explanation for the discrepancy in the amount of labor hired in each location.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92757983

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