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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Order of Operations = PEMDAS
Parentheses
Exponents
Multiplication
Division
Addition
Subtraction
7x+y=11 where y= -5 So, when we substitute y in the equation then,
7x + (-5) = 11 that is 7x - 5 = 11....
So, B. is the right answer.
Answer:
the number of short sleeves sold is 42
Step-by-step explanation:
The computation of the number of short sleeves sold is shown below:
Given that
The clothing store sold 98 long sleeve shirts
And, the ratio of short sleeve to long sleeve is 3:7
So, the number of short sleeves sold is
= 98 × 3 ÷ 7
= 42
Hence, the number of short sleeves sold is 42
Answer:
70.3
Step-by-step explanation:
16.872/.24= 70.3
