(See Problem 7

question 2

Multiple Choice

(See Problem 7.) If the number of persons who attend the club meeting this week is X, then the number of people who will attend next week is 120 + 0.20X. What is a long-run equilibrium attendance for this club?

• A) 120
• B) 600
• C) 240
• D) 150
• E) 30

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Definitions:

Downward

A direction of communication or authority that flows from higher levels of a hierarchy to lower levels within an organization.

Upward

in a higher position or direction; often used to describe movements within an organization's hierarchy from lower to higher levels.

Lateral

Pertaining to or situated at the side; often refers to relationships or movements that are not hierarchical.

Organization

An entity comprising multiple people, such as a company or society, structured to achieve specific goals.