The number of bows that Penny makes per hour and the price the firm sells at shows that the value of the marginal product is $24.95 per hour.
The highest wage the firm will pay is $24.95 per hour.
<h3>What is the value of Penny's marginal product?</h3>
This can be found by the formula:
= Price x Marginal product of Penny
= 4.99 x 5
= $24.95 per hour
The highest wage the firm can pay would be the wage amount that equals their marginal revenue as this is the only way they can maximize profit.
Their marginal revenue in this case is the $24.95 per hour that they pay to Penny so this will be their highest wage to her as well.
Find out more on profit maximization at brainly.com/question/13749309.
#SPJ1
Answer:
Step-by-step explanation:
Answer:
A : debit to Service Charge Expense of $18.
Step-by-step explanation:
First, one should calculate the value, in dollars of the credit card service fee
Fee = 2% x $900 = $18.
Since this fee is classified as "money coming out" of the account, the entry to a record of this transaction should include a debit to Service Charge Expense of $18.
The correct answer is alternative A.
*The whole purchase amount ($900) should be credited and the service expense should be debited, unlike alternative C, which merges both entries into one.
2.8
The tenths place is right after the decimal, so when we round 2.794 to the nearest tenths place, we get 2.8
Hope this helps! Have a good day :)
The point would become (8,2)
3+5=8
4-2=2
