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Question
The cost of labour as a factor of production is expressed in terms of _______.
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Solution
The correct option is A wages
The cost of labour as a factor of production is expressed in terms of wages because to get services from the human labour or physical labour certain amount known as wages are to be paid.
The cost of labour as a factor of production is expressed in terms of wages because to get services from the human labour or physical labour certain amount known as wages are to be paid.
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