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- Three qualities of second-hand bicycles are available in equal numbers: high, medium, and low. There are many buyers and sellers, who value each quality of the bike differently. The value that each agent assigns to each quality of the bike is given below. Quality High Medium Low Buyer’s value 100 (high), 65 (medium), 30 (low) Seller’s value 75 (high), 60(medium) , 45 (low) Now assume that the sellers can offer a reimbursement of 50 to the buyer, payable if the bicycle breaks down. Bikes of high quality never fail; those of low quality always fail; those of medium quality fail 50% of the time. (iii) Suppose that all owners of high and low quality bikes offer reimbursement but owners of low quality bikes do not. Moreover, assume this to be common knowledge. Show that this is an equilibrium if the price satisfies 85 < p < 95. That is, show that none of the sellers is willing to change their behaviour, given actions of others. Is the resulting outcome socially optimal?…Novartis's Prescription for Invoice ProcessingWhat do you do when you have more than 600 business units operating through 360independent affiliates in 140 countries around the world-processing complex invoices in variouslanguages and currencies? You seek out the best technology solution to make the job easier.At global pharmaceutical giant Novartis, the IT department is a strategic resource, a communityof 2,000 people serving 63,000 customers in 200 locations and 25 data centers. Because most ofthe company's invoices come from international suppliers, they have differences in design,language, taxes, and currency. Consequently, many ended up as "query items" requiring manualresolution by Novartis accounting staff-which delayed payments and made those invoicesextremely costly to process. In fact, finance personnel spent so much of their time resolvingqueried invoices that other work suffered. A solution was badly needed.To maximize its investment, Novartis needed a flexible solution that…Chapter 12 List and discuss the steps in the consumer decision making process. provide an example of each step. List and discuss the three steps in the three perspectives on decision making Chapter 13 Describe the value equation and provide an example. Discuss what evaluative criteria is and what determinant criteria is provide an example of each, Describe 2 factors affect evaluative criteria. Describe the difference between compensatory rules an non-compensatory rules.
- List and explain the three types of flexible budget variance.The company that you manage has invested $5 million in developing a new product, but the development is not quite finished. At a recent meeting, your salespeople report that the introduction of competing products has reduced the expected sales of your new product to $1.5 million. If it would cost $2 million to finish development and make the product, you go ahead and do so. The most you should pay to complete development is million.Question:Critically examine the role agency from legal perspective. Discuss the duties and responsibilities of an agent.
- Buying and selling textbooks are two separate decisions made at the margin. Textbooks create value both when they are bought and when they are sold. Think about your decision to buy the textbook for this course. You paid $200 for the book, but you would have been willing to pay $450 to use the book for the semester. Suppose that at the end of the semester you could keep your textbook or sell it back to the bookstore. Once you have completed the course, the book is worth only $70 to you. The bookstore will pay you 50% of the original $200.Buying and selling textbooks are two separate decisions made at the margin. Textbooks create value both when they are bought and when they are sold.Think about your decision to buy the textbook for this course. You paid $200 for the book, but you would have been willing to pay $450 to use the book for the semester. Suppose that at the end of the semester you could keep your textbook or sell it back to the bookstore. Once you have completed the course, the book is worth only $70 to you. The bookstore will pay you 50% of the original $200.How much total value have you gained? $Please give typed solution, don't use handwriting or notebook for solution. Todd is driving his SUV and Susan is a passenger. They are headingdowntown for dinner. Todd’s PAP policy has a Medical Payment limit of$10,000 per person. Susan’s PAP has a Medical Payment limit of $5,000 person. Todd is involved in an at-fault accident that results in Susan beinginjured and incurring $12,000 of medical expenses. How much in Medical Payments coverage would Todd’s PAP insurerpay? How much in Medical Payments coverage would Susan’s PAP insurerpay?
- Buying and selling textbooks are two separate decisions made at the margin. Textbooks create value both when they are bought and when they are sold. Think about your decision to buy the textbook for this course. You paid $225 for the book, but you would have been willing to pay $400 to use the book for the semester. Suppose that at the end of the semester you could keep your textbook or sell it back to the bookstore. Once you have completed the course, the book is worth only $90 to you. The bookstore will pay you 50% of the original $225. How much total value have you gained? $Explain well with correct answer. AsapBackground You and a good friend are supposed to meet in Paris, France. You know you have arranged to meet at either the Arc de Triomphe (AdT) or at the base of the Eiffel Tower (ET) but you cannot remember which and you cannot communicate with each other. You prefer the Arc de Triomphe. Your friend prefers the Eiffel Tower. But you both much prefer to be together rather than apart. If you and your friend each arrive at the Arc de Triomphe, your payoff is 14 and your friend’s payoff is 10. If you and your friend each arrive at the Eiffel Tower, you friend’s payoff is 14 but your payoff is 10. If you go to the Arc de Triomphe and your friend goes to the Eiffel Tower, your payoff is 6 and your friend’s payoff is 6. If you go to the Eiffel Tower and your friend goes to the Arc de Triomphe, your payoff is 4 and your friend’s payoff is 4. If it helps, you can think of these payoffs as units of enjoyment or utility you and your friend derive from the outcomes. (As you recall, while firms…