You are driving a van packed with camping gear (total weight 3,500 pounds including yourself and family) into a northern wilderness area. You take a "short cut" that turns into a one-lane road, with no room to turn around. After 11 miles you come to a narrow bridge with a faded sign saying, "Safe Up to 2 Tons." About a half-mile ahead, you can see that your road rejoins the main highway. You consider the sign's hypothesis carefully before making a decision. The cost of Type I error is

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.