What is eminent domain and what gives the government the authority to exercise eminent domain?
What will be an ideal response?
Eminent domain is the authority of the government to take private property for public use, given just compensation to the owner. The authority for governments to use eminent domain is granted by the Fifth Amendment to the U.S. Constitution.
Economics
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Are all efficient outcomes also equitable? Explain
What will be an ideal response?
Economics
A monopolistically competitive market is described as one in which there are
A) a large number of firms selling similar, but not identical, products. B) one large firm and many small firms producing identical products. C) a few firms producing an identical product. D) a few firms producing differentiated products.
Economics