Reference no: EM131071681
Mickey Bullets, age 32, and Sam Superstar, age 33, were eating dinner one night in the food court of their local mall in Anytown, USA. They began talking about starting a business where they would hire tour guides for various parts of the city to give culinary and historical tours of Anytown, USA. The tour guides would be paid by Mickey and Sam's business in cash for each tour that Mickey and Sam arranged. The tour guides could receive cash tips from the tourists as well. They called Barrett, a well-known local tour guide, to see if he would be willing to give tours for their new business. Mickey and Sam decide that the name of their business should be Tours, Tours, and More Tours.
Mickey and Sam have come to your law firm to request legal advice. Answer the questions below in as much detail as possible and include analysis. Remember to analyze all relevant issues.
1. Mickey and Sam want to formally organize their business. What business forms would you recommend and why? Analyze all relevant business organization types.
2. Jessica's BBQ and Brisket restaurant wants tourists from Mickey and Sam's tours to stop by their restaurant during every tour. Jessica, the owner of the BBQ and Brisket, is 17 years old at this time. All three parties (Mickey, Sam, and Jessica) verbally agree that.
|
Local construction cost index
: The community of Upper Snowshoe has expanded its winter tourism very rapidly. Three years ago, it built a new 16,000 kW power plant for $4,500,000. The local construction cost index was 157 at that time and has risen to 170 now. What is the estimated..
|
|
Soybeans for each week he delays harvesting
: A farmer estimates that if he harvests his soybean crop now, he will obtain 1,000 bushels, which he can sell at $3.00 per bushel. However, he estimates that this crop will increase by an additional 1,200 bushels of soybeans for each week he delays ha..
|
|
What are the firms reaction functions
: If an industry is a Cournot duopoly, what are the firm’s reaction functions? If an industry is a Cournot duopoly, what is the equilibrium price and output? What are the profits for each firm? Illustrate the firm’s pricing and output decision in a gra..
|
|
Considering entering a market dominated by monopolist
: You are considering entering a market dominated by a monopolist. You currently earn $0 economic profits, while the monopolist earns $5. If you enter the market and the monopolist engages in a price war, you will lost $5 and the monopolist will earn $..
|
|
What business forms would you recommend and why
: Mickey and Sam want to formally organize their business. What business forms would you recommend and why? Analyze all relevant business organization types
|
|
Draw payoff matrix illustrating this game
: Two bike riders, Floyd and Lance, are scheduled to race. Each wants to maximize his chance of winning the race; neither has any reservations about taking steroids if that will help win the race. If both take steroids, each has a 50 percent chance of ..
|
|
Impacts of carbon tax on electricity producers
: Graphically show the impacts of a carbon tax on electricity producers. Using another graph, illustrate how a tax compares to a uniform air quality standard that imposes fees on electricity producers in non-compliance. Briefly discuss which policy is ..
|
|
Substitute for coal in the production of electricity
: Generally wind turbines can substitute for coal in the production of electricity. Imagine a breakthrough in the production of wind turbines reduces the cost of generating electricity with wind by 50%. How would this alter the incentive to find and pr..
|
|
Employee for the garnishment orders
: Shortly after this individual begins work, the company receives a "garnishment order." This court order specifies that a certain percentage of the employee's salary must be deducted each paycheck in order to satisfy a money judgment that has been..
|