Shortly after graduating college, roberto took his place in his family's company in miami. roberto's father and uncle started a company that buys bauxite, copper, and other minerals from chile, and brings them into the u. s. every day, roberto brokers trades with mines in chile. the company is in the export business.

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.