Examlex
Three different tests are used by the Supreme Court as standards in reviewing cases which raise issues of equal protection.What are the three tests? When is each applied? In your opinion,why have different tests been developed?
Per-unit Cost
The cost associated with producing a single unit of a product, including all variable and fixed costs divided by the total output.
Market Output
The total quantity of goods or services produced and offered for sale by firms in a particular market.
Fair Return
A reasonable profit level that a utility or service provider is allowed to earn, taking into account the need to provide goods or services at fair prices.
Economic Profit
The contrast between total financial gain and overall financial obligations, including both explicit and implicit expenditures.
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