Solutions:

Theoretically, the velocity ratio of a single fixed pulley is 1.

In practice, whether the pulley is frictionless or has friction, the velocity ratio for a given machine is always the same. However, if the pulley has considerable friction (which is the situation in practice), you will need to exert more effort to overcome the same amount of load, although the Velocity ratio will remain unchanged.

MA = L/E gets reduced when Effort exceeds Load, E > L. (bigger number in the denominator makes the whole expression smaller).
As a result, MA becomes less important than VR.