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How does a tariff affect the domestic price of the import, the domestic consumption, the domestic production, and the quantity imported?
Private Corporation
A corporation that is created by private persons and does not have government duties.
Certificate of Incorporation
An official document issued by a state government recognizing the formation of a corporation and outlining its basic details.
Authorized to Conduct Business
The status granted to a company or individual that fulfills the regulatory requirements to legally operate in a particular jurisdiction.
De Facto Corporation
A company that operates like a corporation and may be treated as one for legal purposes, despite not having completed formal incorporation steps.
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