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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Answer:
x= 2.5I didn't have equipment to do graph bt I think u will understand
Answer:
A mathematical equation is an equation with zero or one variables (e.g., 9 = 6 + 3; 9 = x + 3), whereas an algebraic equation
Step-by-step explanation:
9514 1404 393
Answer:
b) 24 miles per gallon
Step-by-step explanation:
The usual metric measure of vehicle fuel efficiency is liters per 100 km. Greater efficiency is indicated by a lower value.
In the US, the measure is usually miles per gallon. Greater efficiency is indicated by a higher value. Since we want the efficiency expressed in miles per gallon, we need to divide distance by fuel consumption.
(distance)/(fuel used) = (100 km)/(10 L)
= (100 km)/(10 L) × (1 mi)/(1.6 km) × (3.8 L)/(1 gal) = (100×3.8)/(10×1.6) mi/gal
= 23.75 mi/gal ≈ 24 mi/gal
Answer:
Let x be the total number of children in the class.
Two–thirds of the children in the fourth–grade class are girls, and there are 12 girls so that
(2/3)x = 12
x = 12/(2/3)
= 12(3/2)
= 18.
The total number of children in the class is 18.
Step-by-step explanation: