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.
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Well, let's first write these as points.
( 2 , 50 )
( 4 , 100 )
We can see that when "x" is reduced by 2, "y" is reduced by 50. This means that if we reduce "x" by 1, "y" will be reduced by 25. Thus, we can say that if "x" is 1, "y" will be 25.
( 1 , 25 )
What we know that 25 * 1 = 25, and that 2 * 25 = 50. We can see that multiplying "x" by 25 will give us our "y". We can now write this as an equation.
y = 25x
Answer:
Step-by-step explanation:
80 divided by 7 is 11 with a remainder of 3.
D is false.
-1 = -(-1)
When you negate the negative on the left, you get a positive 1, not a negative 1.
