Use the Following to Answer Questions

question 166

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 a monopolist, what is consumer surplus in the long run?

• A) $45
• B) $90
• C) $180
• D) $360