III. (20) Jurisprudence This part contains two questions, each of which is worth ten points. 1. (1D) Freedom to contract This question has two parts, a} and b]. Part b) on the next page is a bonus question. It will be graded hard, so I advise you not to answer it unless you are confident that you can provide a good answer. Social custom as well as laws with respect to the compensation of waiters and waitresses vary considerably across cultures and jurisdictions. One arrangement is for tips to go the individual waiter or wainess. Another is for tips to be shared between some combination of the waiting staff, the kitchen staff, and management. Yet another arrangement is for a minimum tip to be included in the bill {such as "service compris" in France). a) If you were the Lawgiver, would you permit management freedom to choose their tipping policy? Why or why not? If you would regulate managers' freedom to contract (through contract law), what regulations would you impose and why? In your answer, you should consider, among other things, the incentive and risk-sharing effects of the alternative tipping arrangements