Sometimes a bidder on a work contract may bid lower than, Ask an Expert

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

In 300 words or more

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91949694

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