Use the Following to Answer Question

question 10

Multiple Choice

Use the following to answer question:
-(Table: Lunch) Use Table: Lunch.This table shows market demand for picnic lunches for people taking all-day rafting trips on the river.Suppose that the marginal cost and average cost of each lunch are a constant $4 for all firms in the market.What is producer surplus in this market in the long run?

• A)$0
• B)$4
• C)$180
• D)$360

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Definitions:

Tally Defects

The process of counting and recording flaws or errors in a product or process to analyze and improve quality control.

Manufacturing Process

Involves the steps, operations, and methodologies used to transform raw materials into finished goods or products.

Contingency Theories

A group of leadership theories suggesting that there is no single best way to lead, as effective leadership depends on the context of the situation.

Theory Y

A management approach that assumes employees are inherently motivated and will take responsibility if given the opportunity, in contrast to Theory X.