The Market for Good X Consists of Only Two Consumers; $\ge$

question 52

Multiple Choice

The market for good X consists of only two consumers; their demand curves are given by Q = 10 - 0.10P and Q = 5 - 0.10P. What is the market demand curve?

• A) Q_M = 15 - 0.2P if P \(\ge\) $50, and Q_M = 5 - 0.10P if P < $50
• B) Q_M = 15 - 0.2P if P \(\le\) $50, and Q_M = 10 - 0.10P if P < $50
• C) Q_M = 15 - 0.2P if P < $50, and Q_M = 10 - 0.10P if P > $50
• D) Q_M = 15 - 0.2P

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Definitions:

Personality Development

The gradual and enduring changes in a person's behavior and thought patterns over the course of their life.

Oedipus Complex

A Freudian theory proposing that a child feels a subconscious sexual attraction to the opposite-sex parent and hostility toward the same-sex parent.

Defense Mechanisms

Psychological strategies employed unconsciously to protect oneself from anxiety arising from unacceptable thoughts or feelings.

Repression

A defense mechanism where stressful thoughts or memories are unconsciously pushed out of conscious awareness.