A company just began business and made the following four inventory purchases in June: June 1 100 units $600 June 10 150 units 916 June 15 150 units 936 June 28 100 units 648 $3100 A physical count of merchandise inventory on June 30 reveals that there are 140 units on hand. Using the average-cost method, the amount allocated to the ending inventory (rounded to whole dollar) on June 30 is

a. $868.
b. $840
c. $857.
d. $907

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.