If the value of the marginal product of pie makers increased, a possible explanation could be Select one: O a. the price of pies must have increased b. pie makers have become more productive

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A: When the inputs can be used in place of each other, they are known as perfect substitutes.

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A: To find : Elasticity of substitution input will be between which value.

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Q: what is the marginal product?

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A: Answer to the question is as follows :

Q: Use the following information to answer the question below: Study Hours Grade O1 2 O25 42 S57 69 4 6…

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Q: At the point of inflexion, the marginal product is

A: To find : What will be value of marginal product at point of inflexion.

Q: MC ATC AVC 10 20 30 40 50 60 70 80 90 100 Quantity (gallons of ice cream per hour) Based on the…

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A: A competitive market consist of large number of small firms and industry that determines price…