Multiple Choice
Which of the following correctly characterize principals and agents in important examples of the principal-agent problem?
A) In the doctor/patient relationship, the patient is the principal and the doctor is the agent.
B) In the lawyer/client relationship, the client is the principal and the lawyer is the agent.
C) Both of the above answers are correct.
D) Neither of the above answers is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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