Wild morel mushrooms are a delicacy in soups and salads. The following table shows the number of mushrooms that can be harvested per picker per hour in a fictional forest, depending on the number of pickers.

a) Assuming that each mushroom sells for $1, graph the average and marginal revenue for society at each level of effort (number of pickers).

b) Given that the opportunity cost of each picker's time is $10 per hour, label the socially optimal number of pickers and the number of pickers that will enter if the forest is an open-access resource. Explain why the pickers will dissipate the economic rent.

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Pickers 1 2 3 4 Mushrooms per Pickers Picker] Hour 70 60 50 40