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If you were to argue that although a person with an IQ of 60 cannot be a world-renown physicist,s/he still has the freedom to choose within limits of what is physically,psychologically,and socially possible,you would be presenting which of the following positions?
Marginal Revenue Product
The additional revenue generated by employing one additional unit of a factor of production, crucial for decision-making in business.
Output Rises
An increase in the quantity of goods or services produced within an economy, often indicating economic growth or expansion.
Wage Rate
The compensation paid to employees for their labor per time unit, often quantified on an hourly or annual basis.
Quantity of Labor Demanded
The total amount of hours worked that employers are willing to hire at a given wage rate.
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