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 deadweight loss in the long run?
Definitions:
Delphi Technique
A method of group communication and forecasting in which participants complete questionnaires in multiple rounds to reach a consensus.
Nominal Group Technique
A structured method for group brainstorming that encourages contributions from everyone in the group and is used to generate a broad array of ideas or solutions.
Structural Equation Modelling Technique
A statistical methodology used for testing and estimating causal relationships using a combination of statistical data and qualitative causal assumptions.
Qualitative Models
Analytical models that focus on understanding patterns, themes, and narratives in data, often used in decision-making processes.
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