Gce Model Questions Vol1 2019 Economics Question 16
Practice objective / multiple choice question 16 from the 2019 Gce Model Questions Vol1 Economics examination.
A firm's total product (TP) from labour \(L\) (with capital fixed) is given by \( TP = 10L - L^{2} + 0.1L^{3} \) for \(0 \le L \le 10\). (i) Find the level of labour at which average product (AP) is maximised and state the maximum AP. (ii) Find the level of labour at which marginal product (MP) equals average product and give the AP at that level.
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About This Question
This is Gce Model Questions Vol1 2019 Economics Question 16. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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