-In the Above Figure, When 2,000 Bicycles Are Produced Each

question 100

Multiple Choice

-In the above figure, when 2,000 bicycles are produced each month, we can see that

• A) the marginal benefit from another bicycle is greater than the marginal cost of another bicycle.
• B) more bicycles should be produced to reach the allocatively efficient level of output.
• C) the economy is very efficient at the production of bicycles because the marginal benefit exceeds the marginal cost.
• D) Both answers A and B are correct.

---

Definitions:

Skewed Distribution

A statistical term that describes a distribution of data that is not symmetrical, where the bulk of data points are located on one side of the mean.

Horror Movies

A film genre seeking to elicit fear, panic, alarm, and dread for entertainment purposes.

Enjoyment

A feeling of pleasure or satisfaction derived from experiencing something or engaging in an activity.

Independent Variable

In experimental research, the variable that is manipulated or changed to test its effects on the dependent variable.