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JAMB Economics 2000 Question 16

Question 16

Theory of Production

Variable Factor | Total Product | Marginal Product | Average Product
1 | 1 | 1 | 1
2 | 6 | 5 | 3
3 | 24 | 18 | 8
4 | 48 | X | 12
5 | Z | 25 | 14.6
6 | 93 | 20 | Y
The marginal product X is

  1. A.18
  2. B.20
  3. C.24
  4. D.25.
Show the answer and explanation

Answer: C (24)

Explanation

Marginal product = change in total product = 48 − 24 = 24.