Neco 2022 Economics Question 23

Practice objective / multiple choice question 23 from the 2022 Neco Economics examination.

Neco 2022 Economics Objective / Multiple Choice Medium Difficulty
Question 23 NECO • 2022 • ECONOMICS • objective

The total output \(Q\) (in units) of a workshop depends on the number of labour units \(L\) according to the function \(Q = 5L^{2} - 0.1L^{3}\). Find the labour input at which average product equals marginal product, and compute the corresponding output level.

Answer Options

A. L = 30 units, Q = 1800
B. L = 25 units, Q = 1500
C. L = 20 units, Q = 1200
Correct Answer D. L = 25 units, Q = 1562.5
Correct Answer
D
Correct Option:
L = 25 units, Q = 1562.5

About This Question

This is Neco 2022 Economics Question 23. It is one of the objective questions from the 2022 Neco Economics examination.

Difficulty level: Medium .

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