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Question 95

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Use the following to answer questions: Use the following to answer questions:   -(Table: Lunch)  Look at the figure Lunch. Joe makes and sells picnic lunches to people taking all-day rafting trips on the river. The marginal cost and average cost of each lunch are a constant $4. If Joe is one of many firms in a competitive industry, what price will he charge for a lunch in the long run? A)  $10 B)  $8 C)  $6 D)  $4
-(Table: Lunch) Look at the figure Lunch. Joe makes and sells picnic lunches to people taking all-day rafting trips on the river. The marginal cost and average cost of each lunch are a constant $4. If Joe is one of many firms in a competitive industry, what price will he charge for a lunch in the long run?


A) $10
B) $8
C) $6
D) $4

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