week 5 managerial economics

Sometimes, a bidder on a work contract may bid lower than what would maximize his/her profit from the contract and the reason for that is to create goodwill (to increase expected future business from the buyer).

PLEASE ANSWER THE FOLLOWING QUESTIONS BELOW THOROUGHLY...

How would you value the goodwill that is obtained in this way?

Think about an example that pertains to you. If there is expected goodwill would you be prepared to bid lower to get a contract? Explain your reasons.

YOU MUST USE PROPER GRAMMAR, PRONUNCIATIONS AND SENTENCING...YOU MAY USE ONE OUTSIDE SOURCE, BUT IT MUST BE SCHOLARLY FORMATTED IN APA FORM CITED THROUGHOUT PAPER WITH AN REFERENCE PAGE.

YOUR WORD COUNT MUST BE 400 WORDS IN LENGTH...NO PLAGIARISM....THIS PAPER IS DUE 8 HOURS FROM NOW TODAY 8/20/2015...SOONER THE BETTER NO LATER...