If You Find a Photograph Online That You Want to Use

question 84

Multiple Choice

If you find a photograph online that you want to use in a document,

• A) you don't need permission-you are protected by fair use doctrine.
• B) you don't need permission unless you are using it in marketing materials.
• C) if it is not specifically offered for free, you should assume that someone owns it and is entitled to credit and/or payment.
• D) you can do so without permission unless you have to pay to download it.
• E) none of the above.

Understand the implications of jurisdiction for corporations operating in multiple states or countries.

Identify the factors influencing the choice of litigating in federal versus state court when concurrent jurisdiction exists.

Grasp the concept of minimum contacts and its significance in establishing jurisdiction.

Recognize the distinctions between different courts' powers and operations within the American legal system.

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Definitions:

Economic Profits

Profits exceeding the opportunity costs of all resources used, including both explicit and implicit costs.

Accounting Profits

The difference between total revenues and explicit costs, representing the net income a company reports on its financial statements.

Most Efficient Output

The level of production at which a firm operates with the lowest average total cost, achieving optimal efficiency.

Long Run

A period in economic analysis in which all inputs can be adjusted and no factors are fixed.