Solve only these two subparts Q) A)What  is the value of AVC at 130 units of output? B)At which quantity when diminishing returns set in? Please briefly explain.

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A: Answer to the question is as follows:

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A: Answer to the question is as follows:

Q: 7

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Factors of Production

Factors of production – in simple words means the factors that are used for producing any product or service. This includes the resources which are necessary for the manufacturing of products. Factors of production are also known as the building blocks of the economy.