Yette makes sweaters in her home, Starting with just some knitting needles and yarn, she was able to knit 70 sweaters per year. Now Some local stores have expressed interest in her designs and offered to buy her sweaters for $10 each. This makes it worthwhile for her to invest in some capital; In particular, she could produce many more sweaters If she invested in one or more looms, as shown in the following table, Assume that Yvette's sweater business is a perfectly competitive firm. Complete the following table by calculating the marginal physical product (MPP) of each loom and the marginal revenue product (MRP) of each loom. Quantity of Input Output MPP of Each Loom MAP of Each Loom (looms) (Sweaters per year) (Sweater) (Dollars) 70 130 181 226 301 If the rental price of a loom Is $420 per year, Yvette should use Suppose the demand for sweaters is very elastic, while the demand for cigarettes is very Inelastic. Suppose that looms are used exdunively in the production of sweaters and that tobacco is used exclusively in the production of cigarettes, Which of Un following might we expect? The supply of tobacco would be more clastic than the supply of looms. The demand for tobacco would be less clastic than the demand for looms, The demand for tobacco would be more claude than the demand for looms, O The supply of tobacco would be less elastic than the supply of loomis