Waec Model Questions Vol1 2019 Economics Question 4

Practice essay / theory question 4 from the 2019 Waec Model Questions Vol1 Economics examination. This question covers Production .

Waec Model Questions Vol1 2019 Economics Essay / Theory

Topic: Production

Question 4 WAEC_MODEL_QUESTIONS_VOL1 • 2019 • ECONOMICS • essay

A small‑scale poultry farm records the following data on the number of chickens (in hundreds) employed and the total output of eggs (in thousands) per month.

Question Parts

( a )

Using the data, compute the average product (AP) of labour for each level of labour. Show your calculations.

( b )

Compute the marginal product (MP) of labour for each additional hundred chickens (from 1 to 5). Show the steps.

( c )

Identify the range of labour input where diminishing marginal returns set in, and explain the economic significance for the farm.

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About This Question

This is Waec Model Questions Vol1 2019 Economics Question 4. It is one of the essay questions from the 2019 Waec Model Questions Vol1 Economics examination.

The question covers Production .

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