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Any positive value upto 0.36 square units.

A 0.6 x 0.6 square will have the maximum area of 0.36 sq units; a 0.5 x 0.7 rectangle will have an area of 0.35 sq units, and the area will be reduced as you reduce one of the measures and increase the other so that their sum remains 1.2 units so that the perimeter is 2.4 units.

0.1x1.1 will be 0.11 sq units

0.01x1.19 will be 0.0119 sq units

0.001x1.199 will be 0.001199 sq units

0.0001x1.1999 will be 0.00011999 sq units, etc.

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Q: What is the area of a perimeter of 2.4?
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