Based on the information given in the following table, answer the Questions Nos. 18 to 20: Product Schedule Quantity of labour Total Product (TP)…
CA Foundation · Business Economics · PYQS · September 2025
Based on the information given in the following table, answer the Questions Nos. 18 to 20: Product Schedule Quantity of labour Total Product (TP) Average Product (AP) Marginal Product (MP) 0 0 - - 1 - - 20 2 - - 26 3 66 - - 4 - 19 - 5 - - 4 What will be the average product when the quantity of labour is 3?
Suggested Answer and Working Notes:
Correct Answer: Option (A)
A. 22
Topics: Theory of Production and Cost