Herbert, inc., acquired all of rambis company’s outstanding stock on january 1, 2017, for $601,000 in cash. annual excess amortization of $16,300 results from this transaction. on the date of the takeover, herbert reported retained earnings of $453,000, and rambis reported a $276,000 balance. herbert reported internal net income of $45,500 in 2017 and $61,400 in 2018 and declared $10,000 in dividends each year. rambis reported net income of $25,300 in 20

Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact thatmr=mc at the optimal quantity for each firm. furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium isless than the minimum average total cost. true or false: this indicates that there is a markup on marginal cost in the market for engines. true false monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of the externality implies that there is too little entry of new firms in the market.