Given that the total production of Bandako farmers with o...
Given that the total production of Bandako farmers with one worker is 10kg. When the workers increased to 2, 3, and 4, the total production increases to 20, 36 and 60kg respectively.
Calculate the average product (AP) of the 4th unit of labour.
20
13
15
10
Correct answer is C
In this case, 4 workers produce 60kg of output therefore, the Average product of labour for the 3rd unit is 15kg. Given by:
Average product = Total product/Variable product
= 60/4
= 15kg
The reward for a shareholdership of a company is ...
A contractionary monetary policy is used to control_________ ...
Disequilibrium in the balance of payment means ...
Choice in economic life is necessitated by ...
The biggest source of government revenue in Nigeria is ...
Which of these is not usually the function of a wholesaler? ...