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Naomi has stockpiled a great deal of chicken feed. Suppose now that she buys more chicks, but not more chicken feed, and divides the feed she has evenly among the larger number of chickens. What is likely to happen to the marginal physical product of feed? What, therefore, is the role of input proportions in the determination of marginal physical product?

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Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

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BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
Chapter 7, Problem 8TY
Textbook Problem
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Naomi has stockpiled a great deal of chicken feed. Suppose now that she buys more chicks, but not more chicken feed, and divides the feed she has evenly among the larger number of chickens. What is likely to happen to the marginal physical product of feed? What, therefore, is the role of input proportions in the determination of marginal physical product?

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