A Court Opinion That a Court Looks to for Guidance

question 12

Multiple Choice

A court opinion that a court looks to for guidance when reaching a decision, but is not bound to follow, is referred to as:

• A)mandatory precedent.
• B)persuasive precedent.
• C)stare decisis.
• D)on point.
• E)all of the above

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Definitions:

Profit-Maximizing Firm

A company that operates in a way that its primary goal is to achieve the highest possible profit.

Market Price

The current price at which a good or service can be bought or sold in a marketplace.

Occupational Safety Laws

Regulations designed to ensure safe and healthy working conditions for employees by setting and enforcing standards.

Regulatory Requirements

Rules and regulations that entities must follow, often set by government agencies, to operate legally or to enter specific markets.