Use the Figure Below to Answer the Following Questions

question 5

Multiple Choice

Use the figure below to answer the following questions. Figure 5.2.1
-Consider Figure 5.2.1.If the price is $4,what is the consumer surplus from the third unit of the good?

• A)$0
• B)$1
• C)$2
• D)$3
• E)$4

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Definitions:

Lean Business Model

A philosophy that emphasizes eliminating waste while delivering products or services that meet customer needs.

Elimination of Waste

This term typically refers to efforts to reduce non-value-adding activities in a process, often in the context of lean manufacturing or production to improve efficiency and effectiveness.

Process Reengineering

Process Reengineering involves the radical redesign of core business processes to achieve dramatic improvements in productivity, cycle times, and quality.

Strongly Accepted

A term or concept that is widely acknowledged and embraced by a majority within a certain context or community.