Lbc corporation makes and sells a product called product wz. each unit of product wz requires 3.5 hours of direct labor at the rate of $14.50 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 39,000 units of product wz in june. the finished goods inventories on june 1 and june 30 are budgeted to be 200 and 100 units, respectively. budgeted direct labor costs for june would be:

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.