Use the Figure Below to Answer the Following Questions

question 157

Multiple Choice

Use the figure below to answer the following questions.

Figure 2.2.1
-In Figure 2.2.1, when 2,000 bicycles are produced each month,

• A)the marginal benefit from another bicycle is greater than the marginal cost of another bicycle.
• B)more bicycles must be produced to reach the efficient level of output.
• C)fewer bicycles must be produced to reach the efficient level of output.
• D)the economy is efficient at this level of production of bicycles.
• E)both A and B.

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Definitions:

Feedback

A process in which information about the past or present influences the same phenomenon in the present or future.

Internal Communication

The exchange of information, ideas, and feedback within an organization among its members, aimed at improving efficiency, morale, and collaboration.

Noise

Unwanted or irrelevant information that obscures or interferes with the interpretation of data.

Business Conversations

Dialogues or discussions related to the activities, concerns, or operations of a business.