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Describe the structure of the European Union.
Negotiated Price
A final price which is agreed upon by both the buyer and seller after a process of negotiation.
Cooperative Game
Game in which participants can negotiate binding contracts that allow them to plan joint strategies.
Binding Contracts
Legally enforceable agreements between two or more parties with specific obligations.
Individual Payoffs
Refers to the benefits or rewards an individual receives as a result of making a particular decision or taking a specific action.
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