There Are 100 Identical Demanders of Product Y, and the Demand

question 11

Multiple Choice

There are 100 identical demanders of product y, and the demand function for each individual is y =
10 - p. The production function for any firm is y = min(z₁,z₂) . The market demand function is:

• A)y = 1000- 100min(z₁,z₂).
• B)y = 100(10 - p).
• C)y = 100 - 100p.
• D)y = 10 - p.

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Definitions:

Radical Democrats

A faction within the Democratic Party, or a reference to individuals advocating for profound political, economic, or social reforms.

Direct Action

A strategy of political activism that seeks immediate remedy to perceived injustices, often through methods that bypass traditional channels like negotiation or legislation, including strikes, sit-ins, or blockades.

Wade-ins

A form of protest used during the Civil Rights Movement where African Americans would enter segregated swimming areas in order to challenge and protest racial segregation.

Freedom Rides

Civil rights demonstrations in 1961 where racially mixed groups traveled by bus into the American South to challenge the non-enforcement of United States Supreme Court decisions which ruled segregated public buses unconstitutional.