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Explain how selling costs in monopolistic competition affect the efficiency of monopolistic competition.
Negotiation
The process by which two or more parties aim to reach a mutually acceptable agreement.
Negotiator
A person skilled in discussion with the aim of reaching an agreement or compromise on behalf of a party in a dispute or negotiation.
Arbitration
A method of dispute resolution where a neutral third party, the arbitrator, makes a decision to resolve a conflict outside of court.
Judicial Review
The power of courts to assess the constitutionality of laws and actions of the executive and legislative branches.
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