You anticipate a total of 200,000 labor-hours to complete the first iteration of the coding and a learning curve rate of 70%. You are attempting to estimate the cost of the twentieth iteration of this coding sequence. Based on this information and a $60 per hour labor rate, what would you expect to budget as If the first iteration took 200,000 labor hours at $60 per hour equals $12 million without the learning curve.

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.