The safest maximum speed for that road
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The speed limit sign typically refers to the maximum allowable instantaneous speed that a vehicle can travel at any given moment on that road. It is not an average speed limit. Drivers are expected to adhere to this maximum speed limit at all times while driving on that road.
It means that the speed limit is 50 miles per hour.
In most places, the default speed limit in a residential area when there is no sign posted is typically 25 mph (40 km/h). It's always best to check local regulations as speed limits can vary by location. Remember to drive cautiously and be aware of pedestrians and children playing.
The Mach number is the ratio of an object's speed to the speed of sound in the medium it's travelling in. At the throat of a nozzle, the flow becomes choked, meaning it can no longer accelerate to higher speeds. Therefore, the Mach number reaches its limit of 1 at the throat because the flow is moving at the speed of sound at that point.
The speed limit doesn't change, but you are expected to make a reasonable adjustment to your speed to compensate for the conditions. So basically, as fast as you can go at or below the speed limit without getting into a wreck.