Jamal tried to apply for a mortgage. however, he was turned down for the loan because the loan officer noticed that he had made late payments on his credit card and he had not made payments on a loan. what questions should he have asked himself before deciding to buy a home?

a. do you have enough money saved up to cover two to three months of mortgage payments in case you lost your job?
b. do you have a steady income and stable job?
c. do you have a good credit report and credit score?
d. do you have enough money saved for a down payment and closing costs?

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.