Question on: JAMB Economics - 2015
\(\begin{array}{c|c}
\text{Units of variable factor} & \text{Total
Product} \\ \hline
1 & 25 \\ \hline
2 & 31 \\ \hline
3 & 40 \\ \hline
4 & 48 \\ \hline
5 & 55 \\ \end{array}\)
The marginal product at the fifth variable factor is
\text{Units of variable factor} & \text{Total
Product} \\ \hline
1 & 25 \\ \hline
2 & 31 \\ \hline
3 & 40 \\ \hline
4 & 48 \\ \hline
5 & 55 \\ \end{array}\)
The marginal product at the fifth variable factor is
A
7
B
6
C
5
D
9
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Correct Option: A
MP = Δ TP ÷ Δ L
= (TP2 – TP1) ÷ L2 – L1
= (55 – 48 ) ÷ (5 – 4) = 7 ÷ 1
= 7
= (TP2 – TP1) ÷ L2 – L1
= (55 – 48 ) ÷ (5 – 4) = 7 ÷ 1
= 7
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