Use the Following to Answer Questions

question 95

Multiple Choice

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

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Definitions:

Upstream Flow

In supply chain management, refers to the activities involved in the initial stages, focusing on the extraction or production of raw materials and components.

Supply Chain

The network of manufacturers, suppliers, and logistics providers involved in the production, distribution, and delivery of a product to its end user.

On-Premise CRM

A CRM system that is installed and runs on the servers of the organization, rather than at a remote facility like the cloud.

CRM Application

Customer Relationship Management Application; software that helps businesses manage, track, and improve their interactions with customers and potential customers.