Suppose That Bill, George, And $\mathrm { Al }$ Constitute the Entire Market for Consumers of National Defense

question 10

Multiple Choice

Suppose that Bill, George, and $\mathrm { Al }$ constitute the entire market for consumers of national defense. Each man has an identical demand curve for national defense, which can be expressed as $P =$ $50 - Q$ . Suppose that the marginal cost for national defense can be expressed as $M C = \$ 30$ . What is the optimal quantity of national defense?

• A) 150 units.
• B) 60 units
• C) 40 units.
• D) 20 units.

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Definitions:

Uniformity Myth

The belief that all members of a particular group share the same characteristics or experiences, ignoring individual differences.

Psychological Disorder

A condition characterized by abnormal thoughts, feelings, or behaviors that cause distress or impairs functioning.

Effective Assessment Tools

Instruments or methods used to accurately measure variables of interest, often used in psychological and educational evaluations.

Administering Expense

Administering expense refers to the costs involved in managing and executing certain tasks or operations, often within an organization.