Which of the Following Statements Is TRUE with Respect to the Charter

question 37

Multiple Choice

Which of the following statements is TRUE with respect to the Charter?

• A)It was introduced in 1982.
• B)It is a federal statute.
• C)Because it is intended to protect people's rights and freedoms,it severely limits the grounds upon which courts can strike down laws.
• D)It only applies in favour of a government or a government actor.
• E)It applies to federal laws but not provincial laws.

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Definitions:

Pure Monopoly

A market structure where a single seller controls the entire supply of a product or service, and no close substitutes exist.

Long-run Equilibrium

A state in which all resources are optimally allocated, and all firms in the industry are making normal profits, with no external pressures for change.

X-inefficiency

The inefficiency that occurs in a firm due to a lack of competitive pressure, leading to higher costs than necessary.

Pure Competition

A market structure characterized by a large number of small firms, homogenous products, and free entry and exit, leading to price-taking behavior.