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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The answer if you are looking for it this way.2.23
Answer:
I probably need like a picture or example
Trapezoidal is involving averageing the heights
the 4 intervals are
[0,4] and [4,7.2] and [7.2,8.6] and [8.6,9]
the area of each trapezoid is (v(t1)+v(t2))/2 times width
for the first interval
the average between 0 and 0.4 is 0.2
the width is 4
4(0.2)=0.8
2nd
average between 0.4 and 1 is 0.7
width is 3.2
3.2 times 0.7=2.24
3rd
average betwen 1.0 and 1.5 is 1.25
width is 1.4
1.4 times 1.25=1.75
4th
average betwen 1.5 and 2 is 1.75
width is 0.4
0.4 times 1.74=0.7
add them all up
0.8+2.24+1.75+0.7=5.49
5.49
t=time
v(t)=speed
so the area under the curve is distance
covered 5.49 meters
I have summer school work too omg!!! it’s annoying
