There Are 100 Identical Demanders of Product Y, and the Demand

Multiple Choice

There are 100 identical demanders of product y, and the demand function for each individual is y = 10 - p. The production function for any firm is y = min(z₁,z₂) . If the industry were to produce 700 units of y, then aggregate requirements would be:

A) z₁ = 350 and z₂ = 350.
B) z₁ = 500 and z₂ = 500.
C) z₁ = 700 and z₂ = 0 if w₁ < w₂.
D) z₁ = 700 and z₂ = 700.