Luke Is an Owner of Lucky Luke's Corporation

question 10

Multiple Choice

Luke is an owner of Lucky Luke's Corporation.Luke uses the corporate entity of Lucky Luke's to perpetuate fraud.In this case,a court is likely to expose Luke to personal liability by

• A)piercing the corporate veil.
• B) issuing a de facto judgment.
• C)issuing a de jure judgment.
• D)issuing a ultra vires judgment.

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Definitions:

Market Power

The ability of a producer to raise prices.

Externalities

External benefits and external costs.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning individuals cannot be effectively excluded from use, and where use by one individual does not reduce availability to others.

Consumer Surplus

The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.