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In Ethernet when Manchester encoding is used, the bit rate is equal to the baud rate. This means that for every bit of data transmitted, there is one corresponding change in the signal level (or state transition) on the transmission medium. Unlike some other encoding schemes that can encode more than one bit of data per signal change, Manchester encoding encodes one bit per signal change, making the bit rate directly proportional to the baud rate.
A. Half the baud rate.