Let wage denote workersihourly wage and exper workersiexperience in the labour market. Someone discovers that wage is related to exper. The relation- ship is quadratic:

wage = 10 + 0:6exper 0:03exper2

(a) How do you literally interpret the value 10 in the equation?

(b) From the equation, what is the optimal years of experience? (the level of experience that maximizes hourly wage)? (Round your answer to the nearest integer.) What is the highest achievable hourly wage?

(c) Sketch a graph that illustrates your solution in part (b).