Examlex
The federal government is concerned about the possibility that one or more provinces might try in the future to separate from Canada and become independent countries. The federal government has therefore created legislation to govern the validity of any attempts at separation. It would like to have the Supreme Court of Canada's advice as to whether that legislation is constitutionally valid. As a matter of fact, however, the legislation is not yet the subject of any lower court decisions. Is there any way in which the federal government can bring its statute before the Supreme Court of Canada? Or is that Court limited to hearing appeals from lower court decisions?
Total Cost
The sum of fixed and variable costs incurred by a business in the production of goods or services.
Profit
The financial gain achieved when the revenue gained from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.
Economic Profit
The disparity between total income and total outlays, considering both manifest and concealed costs.
(P - ATC)q
The formula representing profit in economic terms, where P stands for price, ATC for average total cost, and q for quantity produced or sold.
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