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Suppose Julia and Zach Are the Only Consumers of Milk

Question 54

Multiple Choice

Suppose Julia and Zach are the only consumers of milk.Julia's demand for milk is defined as QdJulia = 12 - 3P at prices below $4 and zero for prices above $4.Zach's demand for milk is defined as QdZach = 10 - 2P at prices below $5 and zero for prices above $5.If the market price for milk is $4.50,market demand is:


A) zero units of milk.
B) 1.5 units of milk.
C) 1 units of milk.
D) 10 units of milk.

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