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.
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An equation whose variables are polar coordinates is called a polar equation. These equation are characterized by an r as a function an angle. Polar equations can be written in rectangular coordinates by certain relationships. An example of a polar equation would be r = 2sin∅.
Answer:
She ran 6.71km in the evening
Step-by-step explanation:
3km 290m = 3.29km
10 - 3.29 = 6.71km
Answer:x=3
Step-by-step explanation:
-5x=-15
divide by -5
x=3
Answer:
I cant really see the questions
Step-by-step explanation:
