Rules Declared by Federal Administrative Agencies Cannot Be Considered as Federal

question 87

True/False

Rules declared by federal administrative agencies cannot be considered as federal laws.

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Definitions:

Profit-Maximizing

The method or plan of altering manufacturing and sales activities to maximize profit.

Marginal Cost

The expense incurred from manufacturing an extra single unit of a service or product.

Monopolist

A monopolist is a market participant who has exclusive control over the supply of a particular good or service, setting prices with minimal competition.

Profits

The difference between a business's revenues and its expenses.