Suppose That Three Consumers Are in the Market for Good

question 11

Multiple Choice

Suppose that three consumers are in the market for good X. Consumer 1's (inverse) demand is P_X = 40 - Q_X; Consumer 2's (inverse) demand is P_X = 50 - 2Q_X; and Consumer 3's (inverse) demand is P_X = 70 - 4Q_X. When P_X = $20, the market will demand:

• A) 41 units.
• B) 47.5 units.
• C) 19.5 units.
• D) None of the statements is correct.

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Definitions:

Obsessive-compulsive Disorders

A mental health condition marked by unwanted, persistent thoughts (obsessions) and repetitive behaviors (compulsions) that the individual feels driven to perform.

Neurocognitive Disorders

Neurocognitive disorders are a category of mental health diagnoses that primarily affect cognitive abilities such as memory, attention, and reasoning due to medical conditions.

Paraphilic Disorders

Disorders characterized by intense sexual fantasies, urges, or behaviors involving non-human objects, suffering or humiliation of oneself or one's partner, or children or other non-consenting persons.

Sleep-wake Disorders

A group of conditions that affect the ability to sleep well on a regular basis, disrupting daily functioning.