Doctors who form a partnership may say nothing in the partnership agreement concerning its future dissolution. The parties may deliberately avoid discussing dissolution for fear of breeding distrust. Provide some other examples of gaps left in contracts for strategic reasons.
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- Actuaries perform the crucial task of estimating the time paths and probability distributions of costs and revenues for different insurance contracts. Becoming an actuary takes several years, and involves passing a series of rigorous examinations given either by the Society of Actuaries or by the Casualty Actuarial Society. Usually, the individual works for an insurance company while studying for the exams, and the company gives the individual time off to study for the exams. Passing an exam usually results in a significant pay increase. a) Do actuaries have general or firm-specific human capital? b) Who “pays for” the worker’s time off to study for the exams? Choose one answer and explain. · the worker does, by accepting a lower salary · the firm does, to invest in the worker’s human capital c) Why does the individual get a pay increase after passing each exam? Why not evaluate the employee once per year, like many companies do?MIA By-Laws (On Professional Ethics, Conduct and Practices) issued by Malaysian Institute of Accountants (MIA) contains various guidelines that should be compiled by all professional accountants in Malaysia. According to MIA By-Laws, there is a provision that prohibits members from using confidential information acquired in the course of the professional work for his own advantage or for the advantage of a third party. Explain THREE (3) situations where a member may disclose confidential information to the outsider.Bill has been adjudicated by the court to be mentally incompetent. Any contract that bill would enter into would be void? True or false
- Your pharmaceutical firm is seeking to open up new international markets by partnering with various local distributors. The different distributors within a country are stronger with different market segments (hospitals, retail pharmacies, etc.) but also have substantial overlap. In Egypt, you calculate that the annual value created by one distributor is $120 million per year, but would be $160 million if two distributors carried your product line. Assuming a nonstrategic view of bargaining, you would expect to capture $__________ million of this deal. (Hint: The two distributors are independent of each other; therefore, you conduct separate negotiations with each.) Argentina also has two distributors that add value equivalent to the value added by the two distributors in Egypt, but both are run by the government. Assuming a nonstrategic view of bargaining, you would expect to capture $__________ million of this deal. In Argentina, if you do not reach an…Yousif and Fahad Enterprises is a Fast food chain in UAE with over 20 outlets in different locations. Managing the customer relationships is one of the key challenges faced by the enterprise. Discuss some of the characteristics of Customer Relationship Management (CRM) that might enable Yousif and Fahad Enterprises manage customer relationships in an organized way.Which of the following is not a characteristic of a general partnership? Question 24 options: The partnership is created by a contract. Mutual agency exists. Partners share equally in net income or net losses unless an agreement states differently. Dissolution occurs only when all partners agree.
- Online MBA programs significantly reduce the cost to existing managers of obtaining an MBA, as they permit students to maintain their existing residence and employment while working toward an advanced degree in business. Based on your knowledge of the economics of information and student characteristics, compare and contrast the likely characteristics of students enrolled in traditional MBA programs with those enrolled in online MBA programs, and discuss how potential employers might use information about where a candidate obtained his or her MBA degree to screen potential MBA job applicants.The Federal Communications Commission (FCC) has hired you as a consultant to design an auction to sell wireless spectrum rights. The FCC indicates that its goal of using auctions to sell these spectrum rights is to generate revenue. Since most bidders are large telecommunications companies, you rationally surmise that all participants in the auction are risk neutral. Which auction type—first-price, second-price, English, or Dutch—would you recommend if all bidders value spectrum rights identically but have different estimates of the true underlying value of spectrum rights?The Federal Communications Commission (FCC) has hired you as a consultant to design an auction to sell wireless spectrum rights. The FCC indicates that its goal of using auctions to sell these spectrum rights is to generate revenue. Since most bidders are large telecommunications companies, you rationally surmise that all participants in the auction are risk neutral. Which auction type—first-price, second-price, English, or Dutch—would you recommend if all bidders value spectrum rights identically but have different estimates of the true underlying value of spectrum rights? Kindly give a brief one-page description as part of the assignment.
- Select the statements that are true for the contingent renewal contract for quality. Select one or more: a. The contract is renewed each period contingent on the quality of the product in the previous period. b. The principal is the buyer of the product while the seller is the agent. c. The principal is the seller of the product while the buyer is the agent. d. The buyer wants the quality per dollar paid to be as high as possible, and providing quality is expensive for the seller. e. The agent chooses whether or not to renew the contract.Management of AG Travel and Tour has identified two groups of individuals that would be interested in the vacation package consisting of room and board and/or entertainment. The maximum amount that group 1 is willing to pay for room and board is GHC 2500 and for entertainment is GHC 500. For group 2, the maximum amount they are willing to pay for room and board is GHC 1800 and for entertainment is GHC 750. Although AG Travel and Tour is not able to identify members of either group, it does know that each group values the components of the package differently. Assuming there are an equal number of members in each group and that the total membership in each group is a single individual. If the marginal cost of providing the service (room and board and/or entertainment) to each group is GHC 1000.i. How much will the hotel charge members of each group for the vacation package if it could identify the members in each group? ii. How much will the profit for AG Travel and Tour be? iii. Since…Management of AG Travel and Tour has identified two groups of individuals that would be interested in the vacation package consisting of room and board and/or entertainment. The maximum amount that group 1 is willing to pay for room and board is GHC 2500 and for entertainment is GHC 500. For group 2, the maximum amount they are willing to pay for room and board is GHC 1800 and for entertainment is GHC 750. Although AG Travel and Tour is not able to identify members of either group, it does know that each group values the components of the package differently. Assuming there are an equal number of members in each group and that the total membership in each group is a single individual. If the marginal cost of providing the service (room and board and/or entertainment) to each group is GHC 1000. What profit will AG Travel and Tour make if it charges the package pricefound in (v) above?