Contract and Demand

This is a case of a sales firm which operates for 203 twenty-four hourss in a year. Each day the firm operates, it generates revenue (profit) of Rs. 10 Lac. At the beginning of the year, the employees union confronts the instruction of the sales firm everyplace wages and the union presents its get hold of. The prudence either accepts this, or rejects it and returns the coterminous day with a counteroffer for wage to be paid to the employees. The firm can open and start functioning only after an agreement on wage is reached between the management and the union.As per the prevailing law in the state and the industry, it is the unions turn to present its implore on the first day/round of dialogue. At this full stop the management may either accept or reject the demand made by the union and wait till the next (second day of the year) day to come with its offer. Where again the union has the choice to either accept or reject the offer made by the management and go on to the next (third day of the year) day to make their demand to management. The rounds of negotiation may go on and on till the last day unless an agreement is reached between the parties over wage. x 5 = 20 (Please indicate the demand and offer in Rupee value and indicate the contain off for both union and management as a, b where a = unions pay off and b = managements pay off) a. What would be the unions wage demand on the 1st day/round of wage negotiation between management and union, and in case management accepts it what would be the managements pay off from such negotiation? b. Who would make an offer or place a demand on the 4th day/round of wage negotiation? What would be the offer / demand? What would be the pay off of each party (union and management) in case the offer / demand made is accepted by the former(a) party? . Who would make an offer or place a demand on the 200th day/round of wage negotiation? What would be the offer / demand? What would be the pay off of each party (union and management) in case the offer / demand made is accepted by the other party? d. Who would make an offer or place a demand on the 203rd day/round of wage negotiation? What would be the offer / demand? What would be the pay off of each party (union and management) in case the offer / demand made is accepted by the other party? Name- SID- SMS ID- oculus Name-