Neco 2025 Economics Question 7
Practice objective / multiple choice question 7 from the 2025 Neco Economics examination.
A firm's total product (TP) of labour \(L\) is given by \(TP = 5L^{2} - L^{3}\). Determine the level of labour at which average product (AP) is maximised and state the maximum AP value. Give the labour quantity to one decimal place and the AP to two decimal places.
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About This Question
This is Neco 2025 Economics Question 7. It is one of the objective questions from the 2025 Neco Economics examination.
Difficulty level: Medium .
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