The Usual Method of Creating an Agency Is By

question 22

Multiple Choice

The usual method of creating an agency is by:

• A) express authorization.
• B) conduct.
• C) operation of law.
• D) ratification.

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Definitions:

Lagrangian Multiplier

A method employed in constrained optimization issues to identify the function's maximum or minimum while adhering to certain restrictions.

Marginal Utility

The additional satisfaction or utility that a consumer gains from consuming one more unit of a good or service.

Consumption

The act of using goods and services by households or individuals, leading to the depletion of wealth.

Equal Marginal Principle

Principle that utility is maximized when the consumer has equalized the marginal utility per dollar of expenditure across all goods.