\(\begin{array}{c|c} \text{Units of variable factor} & \text{Total Product} \\ \hline 1 & 25 \\ \hline…

Economics JAMB 2015

\(\begin{array}{c|c}
\text{Units of variable factor} & \text{Total
Product} \\
\hline
1 & 25 \\
\hline
2 & 31 \\
\hline
3 & 40 \\
\hline
4 & 48 \\
\hline
5 & 55 \\
\end{array}\)

The marginal product at the fifth variable factor is

  • 7 checkmark
  • 6
  • 5
  • 9

The correct answer is: A

Explanation

MP = ฮ” TP รท ฮ” L
= (TP2 โ€“ TP1) รท L2 โ€“ L1
= (55 โ€“ 48 ) รท (5 โ€“ 4) = 7 รท 1
= 7
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