A Wheel Communication Network Features

question 1

Multiple Choice

A wheel communication network features

• A)a predetermined sequence of communication events.
• B)a complex matrix of communication to and from all members.
• C)communication that is directed to and from a central member.
• D)communication that flows vertically, both top down and bottom up throughout the organization.
• E)communication between members with similar experiences and backgrounds.

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Definitions:

Producer Surplus

Producer surplus is the difference between what producers are willing to sell a good for and the actual price they receive.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefits to society from the trading of goods or services.

Equilibrium Price

The market price at which the quantity of a good demanded equals the quantity supplied, leading to a stable market condition.

Equilibrium Quantity

The quantity of goods or services supplied is equal to the quantity demanded at the market equilibrium price.