A privately owned summer camp for youngsters has the following data for a 12-week session: Charge per camper $480 per week Fixed costs $192,000 per session Variable cost per camper $320 per week Capacity $200 per week Develop the mathematical relationships for total cost and total revenue What is the total number of campers that will allow the camp to just break even

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.