Solve. Simplify the Answer

question 26

Multiple Choice

Solve. Simplify the answer.
-Brian was training to run a marathon. During the three-day period before the race he decided that he would train for a total of 10 hours. If he trained for 1 hours on the first day and hours on the second day, how
Many hours would he need to train on the third day?

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Definitions:

Profit-Maximizing Level

The point at which a firm achieves its highest profit, determined by the level of output where marginal cost equals marginal revenue.

Market Price

The actual selling price of a good or service in the marketplace at which buyers and sellers conduct transactions.

Total Revenue

The total income a firm receives from the sales of its products or services before any expenses are subtracted.

Economic Profit

The difference between a firm's total revenue and its opportunity costs, including both explicit and implicit costs.