Neco 2019 Economics Question 30

Practice objective / multiple choice question 30 from the 2019 Neco Economics examination.

Neco 2019 Economics Objective / Multiple Choice Medium Difficulty
Question 30 NECO • 2019 • ECONOMICS • objective

A firm's total product (TP) from labour \(L\) (in units) is given by \(TP = L^{3} - 6L^{2} + 12L\). Determine the level of labour at which marginal product (MP) equals average product (AP), and state the common product value.

Answer Options

A. L = 4, MP = AP = 4
Correct Answer B. L = 3, MP = AP = 3
C. L = 1, MP = AP = 1
D. L = 2, MP = AP = 4
Correct Answer
B
Correct Option:
L = 3, MP = AP = 3

About This Question

This is Neco 2019 Economics Question 30. It is one of the objective questions from the 2019 Neco Economics examination.

Difficulty level: Medium .

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