The following information pertains to Whitestone Industries for 2016: 
What is the predetermined overhead rate for Whitestone Industries for 2016?
Definitions:
Product Diversity
The variation of products and services offered in a market to meet different customer needs and preferences.
Firms Exit
This occurs when businesses cease operations and leave a market, typically due to factors like unprofitability, competitive pressures, or changing market conditions.
Competitive Price-searcher
This refers to a market situation where companies set their prices based on competition and market conditions, aiming to attract customers by offering better deals than their rivals.
Long-run Equilibrium
A state in which supply and demand balance over the long term, and all factors of production and economic variables have fully adjusted.
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