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:
The cost of the lessons taken
Step-by-step explanation:
Let
y -----> the total paid for the baseball bat and the lessons
c ----> the number of lessons
we have
y=25c+75
This is a linear equation in slope intercept form
y=mx+b
where
b=$75 -----> the price of he baseball bat (y-intercept)
m=25 $/lesson ----> the slope of the linear equation
therefore
25c represent the cost of the lessons taken
Sorry what grade are you in
A
The domain is -∞ < x < ∞
B
The range is -∞ < x ≤ 3
C
The graph is increasing from -∞ < y < 3
D
The graph is decreasing from 3 > y > -∞
E
The local maximum is at ( - 2, 3 )
F
There are no local minimums
Answer:
a. 4.33.
Step-by-step explanation:
If there is only one correct answer out of four alternatives, the expected proportion of correct answers is p =0.25
Sample size (n) = 100 questions
The standard deviation of a proportion 'p' is given by:
Applying the given data:
If X is the number of correct responses in 100 guesses, the standard deviation of X is:
The standard deviation of X is 4.33 questions.
