Use the Following to Answer Questions -(Table: Pumpkin Market)There Are Two Consumers,Andy and Ben,in the Market

question 27

Multiple Choice

Use the following to answer questions : $$\begin{array}{l}\text { Table: Pumpkin Market }\\\begin{array} { l c c c c } \hline \begin{array} { l } \text { Quantity of } \\\text { Pumpkins }\end{array} & \begin{array} { c } \text { Andy's } \\\text { willingness to pay }\end{array} & \begin{array} { c } \text { Ben's willingness } \\\text { to pay }\end{array} & \text { Cindy's cost } & \text { Diane's cost } \\\hline \text { lst pumpkin } & \$ 12 & \$ 11 & \$ 3 & \$ 4 \\\text { 2nd pumpkin } & 10 & 9 & 5 & 6 \\\text { 3rd pumpkin } & 8 & 7 & 8 & 9 \\\text { 4th pumpkin } & 6 & 5 & 10 & 11 \\\hline\end{array}\end{array}$$
-(Table: Pumpkin Market) There are two consumers,Andy and Ben,in the market for pumpkins.Their willingness to pay for each pumpkin is shown in the table Pumpkin Market.There are two producers of pumpkins,Cindy and Diane,and their costs are also shown.The equilibrium price for pumpkins is $8 and the equilibrium quantity is 5.At the equilibrium price and quantity,the total consumer surplus is:

• A) $10.
• B) $8.
• C) $6.
• D) $0.

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Definitions:

Team-Based Organizational Structure

An organizational layout where tasks and responsibilities are allocated to groups rather than individuals, fostering collaboration.

Flat Organizational Hierarchy

is a structure where there are few or no levels of middle management between staff and executives, often leading to faster decision-making and increased flexibility.

Formalization

The degree of adherence to structured policies, procedures, and guidelines within an organization, contributing to consistency and predictability of actions.

Self-Directed Teams

Are groups of employees who manage their workload and operations more independently than traditional work teams, often with a high degree of autonomy.