Attempting to transition toward a more market-based economy, in 1992, yeltsin was elected in russia’s first democratic election in 1958, mao zedong introduced the great leap forward in 1992, yeltsin lifted price controls in 1976, mao zedong shifted more power to the local government

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.