Case summary: Person LC is working as a professor at the University of Massachusetts’s department of plant, soil, and insect sciences. The professor applied in the Drug Enforcement Administration (DEA) for permission to register for the production of marijuana for clinical research. He stated that the Food and Drug Administration (FDA) approved the usage of marijuana in medical and adequate quality supply. However, an administrative law judge suggested that the application can be granted but the DEA rejected the application. DEA stated that the professor has to prove that effective control for unapproved purposes of marijuana will be taken and that the competition to supply it is inadequate. The administration noticed that the professor did not prove the above concerns. The professor appealed to the U.S. Court to review the order.
To find: The standard on which the court will defer to the agency’s interpretation and application of such standard.
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Chapter 23 Solutions
EBK THE LEGAL ENVIRONMENT OF BUSINESS:
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- Equipment is worth $225,243. It is expected to produce regular cash flows of $51,300 per year for 9 years and a special cash flow of $27,200 in 9 years. The cost of capital is X percent per year and the first regular cash flow will be produced in 1 year. What is X?arrow_forward2 years ago, you invested $13,500. In 2 years, you expect to have $20,472. If you expect to earn the same annual return after 2 years from today as the annual return implied from the past and expected values given in the problem, then in how many years from today do you expect to have $55,607?arrow_forwardWhat do you believe will be your highest costs associated with your proposed company? Why?arrow_forward
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