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Proposition 83 (Otherwise Known as "Jessica's Law") Was Passed by a Vote

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Proposition 83 (otherwise known as "Jessica's Law") was passed by a vote of 70.5% of Californian voters in 2006 and was designed to increase the punishment for individuals who are convicted of sexually based crimes against adults and children.This is an example of case law.


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Long-Run Average Cost Curve

A graphical representation that shows the lowest average cost at which a firm can produce any given level of output in the long run, when all inputs are variable.

Small Firms

Businesses that operate on a smaller scale than larger enterprises, often characterized by fewer employees and lower income or revenue.

Large Firms

Enterprises or corporations that operate on a large scale, typically having significant market power, resources, and complex organizational structures.

Scale of Production

Refers to the size of the operation or the volume of output produced by a business or manufacturing plant.

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