Hillary is a cash-basis calendar-year taxpayer. during the last week of december she received a letter containing a $5,000 check for services. which of the following is a true statement? a. hillary is taxed on the $5,000 of service income in the year she cashes the check. b. hillary is taxed on the $5,000 of service income in the year the check was mailed. c. hillary is taxed on the $5,000 of service income in the year she receives the check. d. hillary is taxed on the $5,000 of service income in the year she provides the services. e. none of these is true.

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.