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Why are pretrial hearings necessary, especially if both parties have pursued the lawsuit with full knowledge?
Marginal Utility
The heightened utility one obtains from the consumption of an extra unit of a particular good or service.
Income
Income earned, particularly when it's consistent, from work or investment returns.
Efficient Allocation
An economic condition where resources are distributed in a way that maximizes the welfare of society, ensuring that every good or service is produced up to the point where the last unit provides a benefit equal to the cost of producing it.
Risk
Uncertainty about future outcomes.
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