Question: Explain what is meant by the term principal-agent problem. Have you ever worked in a setting where this problem has arisen? If so, do you

Explain what is meant by the term principal-agent problem. Have you

Explain what is meant by the term principal-agent problem. Have you ever worked in a setting where this problem has arisen? If so, do you think that increased monitoring would have eliminated the problem? Why don't firms simply hire more supervisors to eliminate shirking problems

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