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Why Are Prices of Factors of Production Not Equalized

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Why are prices of factors of production not equalized?


Definitions:

Breach of Contract

The violation of any agreed-upon terms and conditions in a binding contract without lawful excuse.

Remedies

Legal means or methods used to enforce a right or compensate for an injury or harm.

Nominal Damages

Small monetary compensation awarded by a court where a legal wrong occurred, but no substantial harm was suffered.

Specific Performance

A legal remedy where the court orders a party to perform their obligations under a contract, rather than paying damages.

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