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Use the following to answer questions: Table: Abracadabra Processor Limited
-(Table: Abracadabra Processors Ltd.) Refer to the table. Each computer chip produced sells for $350. Suppose that unions enter into the industry and workers become unionized and wages rise from $45,000 to $60,000 per year. How many workers will Abracadabra hire?
Natural Law
A school of jurisprudence that recognizes the existence of higher law, or law that is morally superior to human laws.
Stare Decisis
Latin for “standing by the decision”; a principle stating that rulings made in higher courts are binding precedent for lower courts.
Precedent
A legal principle or rule established in a previous court decision that is either binding or persuasive for a court when deciding subsequent cases with similar issues or facts.
Critical-Thinking Skills
The ability to understand the structure and worth of an argument by evaluating the facts, issue, reasons, and conclusion of the argument.
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