Which of the Following Is an Implied Power of the Federal

question 36

Multiple Choice

Which of the following is an implied power of the federal government?

• A)admitting new states
• B)establishing a national bank
• C)declaring war
• D)establishing federal courts

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Definitions:

Marginal Revenue

The additional income that a company generates from selling one more unit of a good or service.

Pure Monopolist

A market participant that is the sole supplier of a unique product without close substitutes, possessing significant control over market prices.

Total Revenue

The total income earned by a firm from selling its products or services.

Demand Schedule

A presentation showing the level of demand from buyers for a product or service, matched to their willingness and ability to pay at various price scales.