Marbury V.Madison Is Important Historically Because

question 17

Multiple Choice

Marbury v.Madison is important historically because:

• A)it was the first case decided by the U.S.Supreme Court.
• B)it is the first case where the U.S.Supreme Court ruled that it has the authority to declare legislation enacted by Congress unconstitutional.
• C)it was the first case to hold that the Executive Branch must obey laws enacted by Congress.
• D)none of these

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Definitions:

Barriers to Entry

Factors that prevent or hinder companies from entering into a specific market or industry.

Monopolist's Demand Curve

Represents the total market demand faced by a monopolist, indicating how price affects the quantity of output demanded.

Elastic

A term used in economics to describe a situation where the quantity demanded or supplied of a good or service significantly changes in response to a change in price.

Quantitative Difference

The measurable distinction between objects, characteristics, or entities based on numerical values.