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What should be done when the parties to a conflict are peers of a supervisor?
Marginal Benefit
The gain in pleasure or value received from the consumption of one more unit of a good or service.
Public Project
A project typically financed and operated by the government designed to serve the public interest or provide a public good.
Majority Vote
A method of decision-making where the option that receives more than half of the votes wins.
Negative Externalities
Costs experienced by a third party not involved in a transaction, arising from production or consumption of goods and services.
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