Dozens of companies produce plain white socks. consumers regard plain white socks as identical and don't care about who sells them their socks. the technology for producing socks is widely known, and any reputable person who wanted to start a sock manufacturing business could obtain a loan from a bank to buy the necessary machinery.
a. only a few sellers.
b. no free entry.
c. no a standardized product.
d. meets all assumptions.

The following account balances at the beginning of january were selected from the general ledger of fresh bagel manufacturing company: work in process inventory $0 raw materials inventory $ 28 comma 100 finished goods inventory $ 40 comma 600 additional data: 1. actual manufacturing overhead for january amounted to $ 65 comma 000. 2. total direct labor cost for january was $ 63 comma 400. 3. the predetermined manufacturing overhead rate is based on direct labor cost. the budget for the year called for $ 255 comma 000 of direct labor cost and $ 382 comma 500 of manufacturing overhead costs. 4. the only job unfinished on january 31 was job no. 151, for which total direct labor charges were $ 5 comma 200 (1 comma 300 direct labor hours) and total direct material charges were $ 14 comma 400. 5. cost of direct materials placed in production during january totaled $ 123 comma 700. there were no indirect material requisitions during january. 6. january 31 balance in raw materials inventory was $ 35 comma 300. 7. finished goods inventory balance on january 31 was $ 35 comma 400. what is the cost of goods manufactured for january?

Select the word from the list that best fits the definition sometimes

The questions of economics address which of the following ? check all that apply