A Public Utility Commission Sets Rates That Can Be Charged

question 147

True/False

A public utility commission sets rates that can be charged by various public utilities to prevent unfair pricing by regulated monopolies. These public utility commissions are examples of state administrative agencies.

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Definitions:

Stare Decisis

The doctrine of precedent, under which a court is obligated to follow earlier decisions of that court or higher courts within the same jurisdiction. This is a major characteristic of the common law system.

Persuasive Precedents

Legal decisions from other jurisdictions or lower courts that may influence a court’s decision, though not binding.

Doctrine of Stability

A legal principle that aims to maintain long-term contracts or agreements to ensure reliability and predictability in business or international relations.

Constitutions

Constitutions are fundamental principles or precedents according to which a state or other organization is acknowledged to be governed.