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please solve parts C and D (24 pts) Suppose that a bakery has 2 ovens available. For the first four bakers, each baker can produce
please solve parts C and D
(24 pts) Suppose that a bakery has 2 ovens available. For the first four bakers, each baker can produce two pies. With five bakers, the bakery can produce 9 pies. Any bakers after (and including) the 6 th produce no additional pies. (a) Use the graph below to plot the firm's short-run production function. Be sure to label both axes. (8 pts) (c) Use the graph below to plot the firm's marginal product of labor. Be sure to label both axes. (8pts) (d) Does the firm's production function exhibit diminishing marginal product of labor? Explain your answer. (4 pts) Step by Step Solution
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