Answer:
Ease of entry into the market
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services.
In the long run, perfect competition make zero economic profit because if firms are making economic profits in the short run , new firms would enter into the industry in the long run. This is made possible because of the ease of entry into the market.
I hope my answer helps you
Answer:
False
Explanation:
The formula for equivalent units units as follows:
Opening Work in Process + Equivalent units on which the work is done - Closing Work in process = Units Transferred
Therefore, ideally,
Opening work in process - Closing work in process = Units transferred - Equivalent units on which work is done.
As adding all the cost incurred during the period to opening inventory of work in process, we get the total cost for the period, thereafter, deducting the cost allocated to closing work in process we get the value of goods produced and transferred.
<u>Therefore, above statement is false.</u>
Overall, Snead's Snack Bar earned more in July, with $2600, while in June they only earn $2500
McCulloch v. Maryland represented a power struggle between the State and Federal law. It was a landmark decision by the Supreme Court of the United States. The state of Maryland had attempted to impede operation of a branch of the Second Bank of the United States by imposing a tax on all notes of banks not chartered in Maryland. Though the law, by its language, was generally applicable to all banks not chartered in Maryland, the Second Bank of the United States was the only out-of-state bank then existing in Maryland, and the law was recognized in the court's opinion as having specifically targeted the U.S. Bank.
