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MEDIATION: Intervention by an impartial third party to settle disputes between two others. The actions of this third party--the mediator--are not legally binding. Mediators are frequently used in collective bargaining negotiations when unions and their employers have reached an impasse. Mediators help both sides work out a satisfactory agreement. But neither side is legally compelled to follow the mediator's advice.
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MARGINAL COST CURVE A curve that graphically represents the relation between the marginal cost incurred by a firm in the short-run product of a good or service and the quantity of output produced. This curve is constructed to capture the relation between marginal cost and the level of output, holding other variables like technology and resource prices constant. Three related curves are average total cost curve, average variable cost curve, and average fixed cost curve.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store wanting to buy either a genuine down-filled comforter or a 200-foot blue garden hose. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?
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More money is spent on gardening than on any other hobby.
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"There are two big forces at work, external and internal. We have very little control over external forces such as tornadoes, earthquakes, floods, disasters, illness and pain." -- Leo Buscaglia, Author
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UNCTAD
United Nations Conference on Trade and Development
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