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:

Dependable

Capable of being relied upon; showing reliability and consistency in actions and behavior.

Conscientious

Describing an individual who is diligent, careful, and thorough in their duties or work.

Extravert

A person who is outgoing and thrives in social situations, typically characterized by high levels of sociability and enthusiasm.

Critical Realist

A philosophical stance positing that reality exists independently of human thoughts and beliefs, but our understanding of it is always filtered through our social and personal lenses.