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In His Book the Wealth of Nations, Adam Smith Employed

Question 12

Multiple Choice

In his book The Wealth of Nations, Adam Smith employed the example of a pin factory in order to explain what economic concept?


A) the relationship between the marginal and average product of labor
B) the law of diminishing returns
C) why no firm would want to hire so many workers as to experience a negative marginal product of labor
D) the division of labor

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