Which of the Following Is Correct with Regard to the Court

question 44

Multiple Choice

Which of the following is correct with regard to the Court of Appeals for the Federal District?

• A) It hears appeals of all federal district court cases.
• B) It hears its cases in New York City.
• C) It includes three Supreme Court justices on its panel of judges.
• D) It hears appeals only from within the District of Columbia.
• E) It reviews decisions of the Patent and Trademark Office.

---

Definitions:

Economies of Scale

Cost advantages that entities attain due to the scale of operation, with costs per unit of output generally decreasing with increasing scale.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, measuring the performance exceeding opportunity costs.

Short-Run Equilibrium

The condition in which supply and demand are equal at a particular price level, within a short time frame, before all variables have fully adjusted.

Profit-Maximizing

The process or goal of a firm to adjust its production and sale strategies to achieve the highest possible profits.