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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Step-by-step explanation:
m9
56
Answer:
22
Step-by-step explanation:
<u>Answer:</u>
- The x coordinate is known as <u>abscissa</u><u> </u><u>(</u><u>B)</u>
<u>Step-by-step</u><u> Explanation</u><u>:</u>
In a Cartesian plane, we learn many such terms which represent a point, or a line, or cooridnates of some points etc
Such terms are:
- Origin (Intersection of x axis and y-axis.)
- x - axis (Horizontal line)
- y - axis (Vertical line)
- abscisaa (x -coordinate)
- ordinate (y - coordinate)
To find the range of these scores, we must take the largest scores and subtract the smallest from it.
The largest score is 99, and the smallest score is 80.
99 - 80 = 19
