Use the Following to Answer Question

question 38

Multiple Choice

Use the following to answer question:
-(Table: Lunch) Use Table: Lunch.This table shows market demand for picnic lunches for people taking all-day rafting trips on the river.Joe has a firm providing this service,and his marginal cost and average cost for each lunch are a constant $4.If Joe is one of many firms in a competitive industry,how many lunches will the market produce in the long run?

• A)0
• B)20
• C)40
• D)60

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Definitions:

Credit Memorandum

A document issued by a seller to a buyer, reducing the amount the buyer owes to the seller under the terms of an earlier invoice.

Physical Abuse

Threatening, trying, or hurting a partner using physical force.

Emotional Abuse

Aggressive behavior that threatens, monitors, or controls a partner.

Marital Rape

A man forces his wife to have unwanted sexual intercourse (sometimes called spousal rape or wife rape).