Choose the One Alternative That Best Completes the Statement or Answers

question 314

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
Solve the problem.
-Let $f ( x )$ compute the cost of a rental car after $x$ days of use at $\$ 26$ per day. What is the interpretation of the solutio of $f ^ { - 1 } ( x ) = 175$ ?

• A) The number of days rented for \(\$ 26\)
• B) The number of days rented for \(\$ 175\)
• C) The cost of rental for 26 days
• D) The cost of rental for 175 days

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Definitions:

Market System

An economic system where decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.

Government Regulation

Laws and rules set by the government to control the way businesses and industries operate, with the aim of protecting public interest.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefit to society from trading a good or service.

Producer Surplus

The difference between the amount a producer is willing to accept for a good or service versus what they actually receive.