Question: The principal - agent problem describes an instance where: 1 . managers disagree with employees on production issues. 2 . firms fail to achieve market

The principal-agent problem describes an instance where:
1.
managers disagree with employees on production issues.
2.
firms fail to achieve market power because of managerial incompetence.
3.
managers follow their own inclinations, which frequently diverge from the objectives of shareholders.
4.
shareholders prevent managers from maximising profits.

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