CASE EXERCISE: LIMEThe following questions are based on key symptoms (both favorable and unfavorable) of Lime and underlying causes that affect key symptoms as they are observable in the case. In addition, there is a general question on solutions that also address the causes. Each multiple choice and short answer question under Key Symptoms corresponds to the same question number under Underlying Causes (e.g.., Question 3 under Key Symptoms 1 corresponds to Question 3 under Underlying Causes 1).Before beginning this exercise, you will need to read the Lime case.Underlying Causes 1Answer the following multiple-choice questions.1. The micro-mobility space is new and Lime has emerged as the leader in this space becauseLime achieved 136 million trips taken in 2019.None of the answers are correct.Lime operates in over 200 cities and 30 countries.Lime is the first company to go public in this space.2. In 2019 Lime was flying high with a strong market valuation, excellent growth prospects, and a rapidly growing market. The COVID-19 pandemic causedan almost 90\% drop in ridership.All of the answers are correct.the company to suspend operations in 22 countries.a 79\% reduction in market valuation.3. Innovation has been critical to the scalable growth of micro-mobility solutions. Which of the statements is FALSE?Return-to-Me allowed e-bikes to summon attendants if a bike was moving without having been rented.E-Bikes and scooters help cities striving to fight climate change and reduce pollution.The individualized magnetic-stripe card to rent a bike reduced theft of e-bikesDockless bikes allowed a significant reduction is the initial investment to introduce micro-mobility to a city.4. Shared active transportation systems in the United States have begun to thrive. These systems are highly dependent on the assistance and cooperation of the government and public. Which statement is true about developing meaningful partnerships?The National Association of City Transportation Officials grew out of the codependency.All of the answers are correct.NACTO concerns itself with small vehicle parking, community engagement, and equity.Cities normally limit the number of bikes and operators allowed in each jurisdiction.5. Lime believes that it will be able to beat competition using what approach to the market?pricing their service below competitors in key marketsproviding new riders with helmets to improve the safety record that is currently hurting this growing industrywaiting for competitors like Bluegogo to declare bankruptcyfending off rivals using a city friendly approach, including better bikes and data sharing