Suppose Julia and Zach Are the Only Consumers of Milk

question 16

Multiple Choice

Suppose Julia and Zach are the only consumers of milk.Julia's demand for milk is defined as at prices below $4 and zero for prices above $4.Zach's demand for milk is defined as at prices below $5 and zero for prices above $5.

• A) The market demand curve is upward sloping
• B) The market demand curve is a downward sloping straight line
• C) The market demand curve is kinked at a quantity of 2 units
• D) The market demand curve is kinked at a quantity of 1 unit

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Definitions:

Rotating Part

A component that moves around a central axis within a machine, contributing to its mechanical function.

Generator

A device used to convert mechanical energy into electric energy.

Self Excited

Pertaining to an electrical machine or device that generates the magnetic flux necessary for its operation from its own output.

Separately Excited

Describes an electrical circuit or device (typically in motors or generators) where the primary and the excitation circuits are electrically isolated from each other.