Which Is a Primary Source of Tax Law

question 37

Multiple Choice

Which is a primary source of tax law?

• A) J.W. Yarbo v. Comm., 737 F. 2d 479 CA-5, 1984).
• B) Article by a Federal judge in Harvard Law Review.
• C) IRS Determination letter.
• D) IRS Letter ruling.
• E) All of these are primary sources.

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Definitions:

MRP

The additional revenue a firm gains from hiring an additional unit of input, such as labor, in the production of goods.

MRC

Marginal Revenue Cost, NO.

Pure Competition

A market structure in which a very large number of firms sells a standardized product, into which entry is very easy, in which the individual seller has no control over the product price, and in which there is no nonprice competition; a market characterized by a very large number of buyers and sellers.

Market Price

The current price at which a good or service can be bought or sold in the open market.