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PowerPoint Slides prepared by: Andreea CHIRITESCU Eastern Illinois University 18 The Markets for the Factors of Production ? 2015 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 1 Factors of Production ? Factors of production – Inputs used to produce goods and services ? Labor ? Land ? Capital ? Demand for a factor of production – Derived demand ? From firms decision to s
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