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A)Peter and Pip both like apples.Parker has one apple that he can give to either Pip or Peter but he thinks it is fair to give it to the person who gets the most utility from the apple.The decision presents Parker with a problem: since he cannot quantify the utility that Peter and Pip each get from the apple,he cannot compare their utilities and make a fair decision.Is Parker right? Explain.


Definitions:

Limited Partnership

A business arrangement where one or more 'general partners' manage the business and are personally liable for debts, while 'limited partners' contribute capital and share in profits but have limited liability.

Sharing Profits

The distribution of a portion of a company's earnings to stakeholders, such as employees or partners.

Limited Partnership

A business structure where at least one partner has limited liability to the extent of their investment, while at least one other has unlimited liability.

Organizational Records

Documents and records that are important for maintaining the operations, legal compliance, and historical record of an organization.

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