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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Answer: 10
Step-by-step explanation:
1. Write the fractions as 2/9 times 45/1.
2. Cross cancel 45 and 9 by dividing by 5, which now gives you 2/1 and 5/1.
3. Multiply 2/1 and 5/1 and you get 10.
I hope this helps!
This is simple division:
So, plug it into your calculator and you get:
Your answer's that
it takes 4.5 hrs for the surveillance run.
Answer:
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Y=1.50x+7.50. 7.50 is the y intercept and 1.50 is the rate of change or slope
