Question
A small town lawyer, who is a sole practitioner, does both divorces and real estate transactions in his firm. (a) Fully explain how the equal
A small town lawyer, who is a sole practitioner, does both divorces and real estate transactions in his firm.
(a) Fully explain how the equal compensation principle applies to this lawyer?
(b) Does it make a difference whether this lawyer is a profit maximizer or a total value maximizer? Carefully identify the assumptions you make in your answer.
(c) What advantages and disadvantages arise if the lawyer hires a second lawyer to divide the divorce and real estate work?
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Managerial Economics Applications, Strategies and Tactics
Authors: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
13th edition
1285420926, 978-1285962399, 978-1285947853, 1285947851, 978-1285420929
