Legal services provided and also about charge for services

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Assume that the Good Tire company needs outside legal help and that the expected marginal benefit of this help is given by MB=$200- 2-L, where L equals hours per week of legal services. At the same time assume that the marginal cost to the law firm for providing these legal services is constant and equal to $100 per hour. In this context, discuss how different assumptions about market structure, information availability and agency cost will yield different conclusions about the amount of legal services provided and also about the charge for these services.

Reference no: EM131174664

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