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Supply and Demand- Price of Inputs

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Analyze the effect of changes in the supply of and demand for factors of production on the price of inputs. (150-200 words.)

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Detailed explanation of the effects of supply and demand and their impact on the price of inputs has been provided.

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Analyse the effect of changes in the supply of and demand for factors of production on the price of inputs.

Production of a good or service involves the use of inputs, on which different processes are applied. These are then called outputs. These outs are generally the product or service ...

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