If a Monopoly Is Forced to Charge a Price =

question 34

Multiple Choice

If a monopoly is forced to charge a price = MC:

• A) output will fall.
• B) resource allocation will improve.
• C) the monopoly will incur an economic loss.
• D) all of the above will occur.

Know the criteria for deference by courts to agency interpretations of law.

Understand the rulemaking process including notice-and-comment rulemaking.

Recognize the powers of administrative agencies in enforcement and investigations.

Identify the legislative basis and authority for creating and controlling administrative agencies.

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Definitions:

Court-appointed

Refers to individuals or entities, such as attorneys or guardians, designated by a judge or court to perform a certain role or represent someone in a legal matter.

Public Defender

A lawyer employed by the government to represent defendants who are unable to afford private counsel in criminal proceedings.

Criminal Defendant

An individual or entity charged with a criminal offense and facing prosecution.

Right To Counsel

The guaranteed right of a defendant in a criminal trial to have the assistance of counsel (a lawyer), and if the defendant cannot afford one, the court must appoint an attorney.