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 is producer surplus in the long run?
Definitions:
New Deal
A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the 1930s to help the United States recover from the Great Depression.
Welfare State
A social system in which the government assumes primary responsibility for the welfare of its citizens by providing services such as healthcare, education, and financial support.
Public Works Administration
A New Deal agency in the United States (1933-1944) created to provide public infrastructure jobs in the wake of the Great Depression.
Filipino Repatriation Act
Legislation passed in the United States in 1935, encouraging Filipinos living in the U.S. to return to the Philippines by offering free transportation.
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