Use the Following to Answer Question

question 297

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 a monopolist,what is deadweight loss in the long run?

• A)$45
• B)$90
• C)$180
• D)$360

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Definitions:

Observational Learning

A learning process whereby individuals acquire new behaviors or knowledge by observing and imitating the actions of others.

Direct Instruction

A teacher-centered teaching method characterized by structured, systematic, and explicit guidance.

Same Behaviors

Repetitive actions or conduct exhibited by individuals in similar circumstances.

Laissez-Faire

An economic doctrine or approach that opposes the over-involvement of government in business, advocating minimal regulations.