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JAMB Economics 2017 Paper

Question : 38

Total: 50

Solution:

Concept:

Average product of labour is the output produced per unit of labour.

Explanation:

Average product is calculated as:

\text{Average product} = \frac{\text{Total product}}{\text{Units of labour}}

From the table, the total product when the 3rd unit of labour is employed is

150

So, the average product of the 3rd unit of labour is:

\text{Average product} = \frac{150}{3} = 50

Answer:

50

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