In Civil Cases, Most Litigation Is Brought in the

question 51

Multiple Choice

In civil cases, most litigation is brought in the

• A)federal district courts.
• B)federal circuit courts.
• C)U.S.Supreme Court.
• D)courts established by the state in which the activity in question took place.
• E)judicial venue most likely to produce an unbiased jury for the issue in question.

---

Definitions:

Economic Profit

The split between total revenue generation and total cost accrual, encompassing both declared and understood costs.

Long-Run Adjustments

Adjustments that firms make over a period where all inputs can be varied, and there are no fixed factors of production.

Industry Supply

The total output of a particular good or service that all producers in the market are willing and able to sell at a given price level, over a specific time period.

Short-Run Market Supply

The total quantity of a good or service that producers are willing and able to sell at various prices over a short period, where some production factors are fixed.