Marginal Product(MP) - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2016

The additional cost incurred by producing an additional unit of output is known as

A. Fixed cost
B. Total cost
C. Average cost
D. Marginal cost

Question 3:

• JAMB 2016

If additional unit of a variable factor input causes a fall in the marginal product, this implies that

A. Total product starts declining
B. Average product has become zero
C. Diminishing returns has set in
D. Increasing returns is operating

Question 4:

• 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

A. 7
B. 6
C. 5
D. 9

Question 5:

• JAMB 1987

The additional revenue obtained by using one more unit of a factor is called its?

A. Marginal product
B. Additional product
C. Marginal revenue product
D. Average product