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Probable Cause
A legal standard that requires a reasonable basis to believe a person has committed a crime, used in issuing warrants and arrests.
Suspect Committed Crime
The allegation or belief that an individual is responsible for committing a criminal act, often the preliminary step in a legal investigation.
Cost-output Elasticity
A measure of the responsiveness of the cost of production to a change in the level of output, indicating how costs change as production scales.
Economies of Scale
Refers to the cost advantage that arises with increased output of a product, where fixed costs are spread out over more units of output.
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