You and a classmate volunteer at a local nursing home. You have both agreed to work
there for two months. However, your
classmate always arrives late, and she often
works on her homework instead of spending
time with the residents. She says that if she
isn't getting paid, she doesn't need to work
hard. Is this true?'Explain your answer in a
written paragraph.

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.