Use the Following to Answer Questions

question 202

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 deadweight loss in the long run?

• A) $45
• B) $90
• C) $180
• D) $360

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Definitions:

Isotopes

Variants of a particular chemical element that have the same number of protons but different numbers of neutrons in their nuclei.

Volcanic Ash

Fine particles of rock and mineral matter expelled from a volcano during eruptions, which can have significant effects on climate, air quality, and aviation safety.

Radiocarbon Dating

A method for determining the age of an object containing organic material by using the properties of radiocarbon, a radioactive isotope of carbon.