WAEC Economics 2001 Question 14

Question 14

Theory of Production

Use the table below to answer questions 12, 13 and 14.
Units of Variable factor | Total Product
1 | 25
2 | 31
3 | 40
4 | 48
5 | 55
The average product of the variable factor when four units are employed is

  1. A.6
  2. B.8
  3. C.12
  4. D.48
Show the answer and explanation

Answer: C (12)

Explanation

AP = TP ÷ units = 48 ÷ 4 = 12.