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A firm has a fixed sum of money B to allocate in bonus payments between two managers. Each manager appreciates receiving the bonus but resents that the other manager receives a bonus as well. Let the preferences of the two managers be given by U_G = b_G - c · b_J and U_J= b_J - c · b_G
(a) Describe the Pareto effcient allocations when c = 0.
(b) Is there a Pareto effcient allocation when 0 < c < 1? If so, describe the Pareto effcient allocations.
(c) Is there a Pareto effcient allocation if c = 1? Is there a Pareto effcient allocation?
(d) Is there a Pareto-ecient allocation if c > 1? Is there a Pareto effcient allocation?
Is it okay to setup commission of salespeople based on revenue generated by them and contribution suggested by their manager?
Why do markets sometimes fail to allocate resources efficiently? How can government policies potentially improve the market's allocation
Consider a palletizer and a bottling plant that has a first cost of $150,000. It has operating and maintenance costs of $17,500 per year, and an estimated net salvage value of $25,000 at the end of 30 years. Assume an interest rate of 8% per year. Wh..
Suppose the employees of Starbucks in China are paid 8 yuan per hour and a cup of coffee is priced at 8 yuan. If Starbucks is maximising its profit, What is the value of marginal product of labour (VMPL) per hour of the last worker employed by Starbu..
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Suppose there is a five per cent increase in the prices of SUVs, salt, and rental apartments. Explain whether you think the income effect in each case would be small, large, and why.
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How do developing and industrial countries differ in their use of technological change, labor, capital, and natural resources to produce economic growth? Why do these differences exist?
A company deposits $2000 in a bank at the end of every year for 10 years. The company makes no deposits during the subsequent 5 years. If the bank pays 8% interest, how much would be in the account at the end of 15 years?
What are the differences between consumer and industrial goods and what are the implications for international marketing? Please discuss.
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