Solve the Problem $\$ 8.50$ To Rent a Chain Saw, And $\$ 4.00$

question 4

Multiple Choice

Solve the problem.
-A tool rental store charges a flat fee of $\$ 8.50$ to rent a chain saw, and $\$ 4.00$ for each day, including the first. Use a linear equation to find the cost of renting the saw for one week.

• A) \(\$ 36.50\)
• B) \(\$ 32.50\)
• C) \$28.00
• D) \(\$ 12.50\)

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Definitions:

Income Distribution

Refers to the way total personal income is distributed among individuals or households in an economy, affecting economic inequality.

Reservation Price Model

A model that defines the maximum price a consumer is willing to pay for a good or service.

Aggregate Demand

The aggregate need for all products and services in an economy, measured at a specific price level and during a particular time frame.

Marginal Revenue

The additional income generated from selling one more unit of a product or service.