Neco 2018 Economics Question 48
Practice objective / multiple choice question 48 from the 2018 Neco Economics examination.
A firm's total product (TP) at different levels of labour (L) is given below:\n\n\(L\): 0, 1, 2, 3, 4, 5\n\(TP\) (units): 0, 20, 45, 66, 82, 93\n\nCalculate the average product of labour when \(L = 4\), the marginal product of labour when labour increases from 4 to 5 units, and state whether diminishing marginal returns have set in by the time \(L = 4\).
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About This Question
This is Neco 2018 Economics Question 48. It is one of the objective questions from the 2018 Neco Economics examination.
Difficulty level: Medium .
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