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JAMB Economics 2015 Paper
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© africaexams.com
Question : 27
Total: 70
Units of labour
Fixed capital
Total product
Average product
Marginal product
0
10
-
-
-
1
10
10
10
10
2
10
25
12.5
15
3
10
50
16.7
25
4
10
80
20.0
30
5
10
106
21.2
26
Calculate the average product when the 2nd labour was employed 12.5
12.5
12
15
10
Validate
Solution:
Average Product = total product ÷ Labour Employed
TPL/1 = 25/2= 12.5
Average product = 12.5
© africaexams.com
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