Diversity Jurisdiction Requires Citizens of Two Different States

question 59

Multiple Choice

Diversity jurisdiction requires citizens of two different states:

• A) or a controversy of $50,000 or more.
• B) and a controversy of $50,000 or more.
• C) or a controversy of $75,000 or more.
• D) and a controversy of $75,000 or more.

---

Definitions:

Concentration Ratio

An indicator of the percentage of an industry's market controlled by its biggest companies.

Leading Firms

Leading firms are companies at the forefront of their industries, often setting standards and trends for others to follow.

Perfect Competitor

an individual firm operating in a perfect competition market structure, which cannot influence the market price and produces a standard product.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers, typically sloping downward from left to right.