3 A bakery operating in competitive markets sel ls its output for $20 per cake and hires...

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3 A bakery operating in competitive markets sel ls its output for $20 per cake and hires labour at $10 per hour. To maximise profits, it should hire labour until the marginal product of labour is a 1 /2 cake per hour.

b 2 cakes per hour.

c 10 cakes per hour.

d 15 cakes per hour.

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