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From the table above, find the values of E and F respectively

Economics
JAMB 2014

From the table above, find the values of E and F respectively

  • A. 27 and 1
  • B. 68 and 12
  • C. 28 and 5
  • D. 12 and 19
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Correct Answer: Option A
Explanation

To get the total product for E multiply unit of labour by the average product. 
Thus we have 3 x 9 = 27

marginal product for F is gotten as change in the total product. Thus we have 28 - 27 = 1

Unit of labor Total product  Average product Marginal product
1 8 8 -
2 20 10 12
3 27 9 7
4 28 7 1
5 40 8 12

 


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