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No of Men 1 2 3 4 5 6 7 8   Total Product(unit) 200...

Economics
JAMB 2018

No of Men 1 2 3 4 5 6 7 8  
Total Product(unit) 200 440 540 600 640 660 660 640

If the price per unit  is N2, what is the average revenue when 6 men are employed?

  • A. N110
  • B. N120
  • C. N220
  • D. N330
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Correct Answer: Option A
Explanation

Average revenue is obtained by dividing the total revenue by the number of units sold. Thus we have;

\(\frac{660}{6}\) = 110 


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