BFN 112/ BAM 114- PRINCIPLES OF ECONOMICS 1 ASSIGNMENT FOR FULL TIME

(a) State factors of production and their economic reward.

(b) Calculate :

i. Average Product

ii. Marginal Product

Given the table below showing output of yam producer in Ogun State.

Labour Unit	1	2	3	4	5	6	7	8	9	10
Total Product	400	850	1,350	1,840	2,150	2,400	2,520	2,520	2,475	2,550

(c) Enumerate properties of indifference curve approach.

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BFN 112/ BAM 114- PRINCIPLES OF ECONOMICS 1  COURSE OUTLINE:

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