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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Stop sending files/links. Help them
Answer:
You are 89 years old.
Step-by-step explanation:
First I subtracted 322 from 500 which got me 178. Then I finally did 178 divided by 2 which got me 89.
Hope this helps you! :)
It is C) 2.55 because i was taught that you can subtract the negative from the positive. 5.35-2.8=2.55 and it is positive
