Which of the Following Cases Is Properly Paired with Its

question 14

Multiple Choice

Which of the following cases is properly paired with its corresponding decision?

• A) Fletcher v.Peck-states may not tax federal institutions
• B) Gibbons v.Ogden-national government controls interstate commerce
• C) McCullough v.Maryland-sanctity of contract
• D) Dartmouth College v.Woodward-judicial review

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Definitions:

Short Run

A period in economic analysis during which at least one input (like capital) is fixed, limiting the ability of the firm to adjust to changes in market demand or conditions.

Break-Even Point

The point at which total costs and total revenues are equal, meaning a business is not making a profit but also not incurring a loss.

Short Run

A period in which at least one factor of production is fixed, limiting the immediate capacity to adjust to changes in demand.

Long Run

A time frame where every production factor and cost can change, providing complete flexibility to adapt to new situations.