Illustrate what happens to the marginal product

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Q. Suppose the general demand equation for good X is QX = 100 - 8PX + 6PY - M. If PX = $4, PY = $2, and M = $10, what is the cross-price elasticity of good X with respect to the price of good y?

Q. Illustrate what happens to the marginal product of each individual factor as that factor is increased, and the other factor is held constant?


Reference no: EM1362720

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