Periodic inventory by three methods the units of an item available for sale during the year were as follows: jan. 1 inventory 2,500 units at $5 feb. 17 purchase 3,300 units at $6 july 21 purchase 3,000 units at $7 nov. 23 purchase 1,200 units at $8 there are 1,500 units of the item in the physical inventory at december 31. the periodic inventory system is used. a. determine the inventory cost by the first-in, first-out method. $ b. determine the inventory cost by the last-in, first-out method. $ c. determine the inventory cost by the weighted average cost method. $

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.