This Is the Term for a Court Opinion Agreeing with the Decision

question 54

Multiple Choice

This is the term for a court opinion agreeing with the decision of the majority but not the rationale provided in the majority opinion.

• A)concurrence
• B)amicus curiae
• C)qualified accordance
• D)conditional acceptance
• E)writ of clarification

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Definitions:

Pareto Efficient Allocations

refers to an economic situation where no individual can be made better off without making someone else worse off.

First Theorem of Welfare Economics

A principle stating that, under perfect competition and with no externalities, the allocation of resources where supply equals demand leads to a Pareto efficient outcome.

Competitive Equilibrium

A state in a market where supply equals demand, with price acting as the balancing factor, and all economic agents are optimizing their outcomes.

Pareto Optimum

An economic state where resources are allocated in a manner that precludes the possibility of bettering one's situation without causing harm to another.