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 consumer surplus in the long run?
Definitions:
Total Revenue Test
A method used in economics to analyze the elasticity of demand by measuring changes in total revenue with variations in price.
Elasticity of Supply
A measure of how much the quantity supplied of a good responds to a change in the price of that good, reflecting producers' willingness and ability to alter production.
Price Elasticity of Supply
An indicator of the sensitivity of the amount of a product provided to shifts in its price.
Market Period
A very short time frame in economics during which the supply of a good is fixed, meaning it cannot be increased or decreased in response to changes in price.
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