Question 11
MediumOriginal questionCapital is fixed and labour is varied. The table shows total product.
| Labour (units) | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
|---|---|---|---|---|---|---|---|---|---|
| Total product | 10 | 24 | 39 | 52 | 60 | 66 | 70 | 70 | 63 |
What is the average product when 5 units of labour are employed?
Show the answer and explanation
CorrectNot quiteAnswer B
Correct answer: B
Explanation
AP₅ = TP₅ ÷ 5 = 60 ÷ 5 = 12.
Worth noting
8 is the marginal product of the 5th unit (60 − 52).
- Concept
- AP from a TP schedule
- Typical timeTypical
- 70 s
- Your timeYours
- —
Practise this chapter →
Ten questions from Production Function: TP, MP and AP, at your own pace.