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-In the above figure, a regulation requiring average cost pricing would force the firm to produce at output level
McCulloch v. Maryland
A landmark U.S. Supreme Court decision in 1819 that established the principles of national supremacy and implied powers of the federal government.
Gibbons v. Ogden
A landmark Supreme Court case in 1824 that clarified the scope of Congress's power to regulate interstate commerce, establishing a broad interpretation of the Commerce Clause.
John Marshall
The fourth Chief Justice of the United States (1801–1835), who played a significant role in establishing the power of the Supreme Court.
National Government
The government of a nation-state, responsible for the administration and governance of the country as a whole, in contrast to regional or local governments.
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