The Theory of Production - Jamb Economics Past Questions and Answers

Question 91:

• JAMB 1992

Calculate the marginal physical product of the last unit of input

A. O
B. 2
C. 4
D. 10

Question 92:

• JAMB 1993

If labour productivity in the cement industry is increasing as output of cement is expanded, then the amount of labour per unit of output produced must be?

A. Less than zero
B. Decreasing
C. Constant
D. Increasing

Question 93:

• JAMB 1993

Production is said to be completed when?

A. Goods and services reach the consumers
B. Prices of goods and services are determined
C. Goods are sold to the wholesaler
D. Goods are packaged

Question 94:

• JAMB 1993

The above diagram showing the maximum possible combination of commodities X and Y produced in Nigeria is called the

A. Production indicator
B. Maximum production curve
C. Production possibility curve
D. Total output curve

Question 95:

• JAMB 1994

When the Total Product (TP) is at maximum point, the Marginal Product (MP) and the Average Product (AP) respectively are?

A. Zero and decreasing
B. Decreasing and zero
C. Negative and decreasing
D. Both at their maximum