begin array c c text Units of labour amp text F... - JAMB Economics 2015 Question
\(\begin{array}{c|c}
\text{Units of labour} & \text{Fixed capital} & \text{Total product} & \text{Average product} & \text{Marginal product} \\ \hline
0 & 10 & - & - & - \\ \hline
1 & 10 & 10 & 10 & 10 \\ \hline
2 & 10 & 25 & ? & 15 \\ \hline
3 & 10 & 50 & 16.7 & 25 \\ \hline
4 & 10 & 80 & 20.0 & 30 \\ \hline
5 & 10 & 106 & 21.2 & 26 \\ \end{array}\)
Calculate the average product when the 2nd labour was employed 12.5
\text{Units of labour} & \text{Fixed capital} & \text{Total product} & \text{Average product} & \text{Marginal product} \\ \hline
0 & 10 & - & - & - \\ \hline
1 & 10 & 10 & 10 & 10 \\ \hline
2 & 10 & 25 & ? & 15 \\ \hline
3 & 10 & 50 & 16.7 & 25 \\ \hline
4 & 10 & 80 & 20.0 & 30 \\ \hline
5 & 10 & 106 & 21.2 & 26 \\ \end{array}\)
Calculate the average product when the 2nd labour was employed 12.5
A
12.5
B
12
C
15
D
10
correct option: a
Average Product = total product ÷ Labour Employed
TPL/1 = 25/2= 12.5
Average product = 12.5
TPL/1 = 25/2= 12.5
Average product = 12.5
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