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:green area- triangle area = 72-9 = 63
Step-by-step explanation:
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heres an example of substitution in a world problem. hope this helps on some other problens
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"Because the particles (electrons and ions) in a plasma have an electrical charge, the motions and behaviors of plasmas are affected by electrical and magnetic fields. ... Ions have a positive electrical charge because they have more positively charged protons than negatively charged electrons."
-Educationscied.ucar.edu › plasma
You would plug in 6 where the x is so it would be -4 times 2 plus 5(6)