Waec Model Questions Vol1 2024 Economics Question 37
Practice objective / multiple choice question 37 from the 2024 Waec Model Questions Vol1 Economics examination.
A farm's total product of labour (in units of output) is given by TP = 120L - 2L², where L is the number of workers employed. Each worker is paid a monthly wage of ₦14,000 and the farm can sell its output at ₦500 per unit. Assuming no other costs, how many workers should be employed to maximise monthly profit and what is that maximum profit?
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This is Waec Model Questions Vol1 2024 Economics Question 37. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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