Which of the following statements is true? A. When production is less than sales, operating income is higher under absorption costing than variable costing. B. When production is greater than sales, operating income will be lower under variable costing than absorption costing. C. When production is equal to sales, operating income will be greater under variable costing than under absorption costing. D. When production is greater than sales, operating income is greater under variable costing than under absorption costing.

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.