JAMB - Economics (2018 - No. 19)
| No of Men | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | |
| Total Product(unit) | 200 | 440 | 540 | 600 | 640 | 660 | 660 | 640 |
If the price per unit is N2, what is the average revenue when 6 men are employed?
N110
N120
N220
N330
Explanation
Average revenue is obtained by dividing the total revenue by the number of units sold. Thus we have;
\(\frac{660}{6}\) = 110
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