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Question 306

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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 a monopolist, what is producer surplus in the long run? A) $45 B) $90 C) $180 D) $360
-(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 a monopolist, what is producer surplus in the long run?


A) $45
B) $90
C) $180
D) $360

Correct Answer:

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