Purple Cab Company had 58,000 shares of common stock outstanding on January 1, 2021. On April 1, 2021, the company issued 28,000 shares of common stock. The company had outstanding fully vested incentive stock options for 5,800 shares exercisable at $12 that had not been exercised by its executives. The average market price of common stock was $14. The company reported net income in the amount of $277,915 for 2021. What is the basic earnings per share (rounded)

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.