Suppose Julia and Zach Are the Only Consumers of Milk

question 53

Multiple Choice

Suppose Julia and Zach are the only consumers of milk.Julia's demand for milk is defined as Q^d_Julia = 12 - 3P at prices below $4 and zero for prices above $4.Zach's demand for milk is defined as Q^d_Zach = 10 - 2P at prices below $5 and zero for prices above $5.Market demand when price is $4 is:

• A) Q^d_Market = 12 - 3P.
• B) Q^d_Market = 10 - 2P.
• C) Q^d_Market = 22 - 3P.
• D) Q^d_Market = 22 - 5P.