renegotiation and status quo Retum to the originaI story setting in Table 24.1. Carefully describe the role
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renegotiation and status quo Retum to the originaI story setting in Table 24.1. Carefully describe the role played by the initial pay-for-performance arrangement. It will, in equilibrium, be replaeed by aguaranteed payment of 8,000. Why not simply begin with an arrangement that ealls for payment of 8,0007 AppendixLO1
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