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Question:
Critically examine the role agency from legal perspective. Discuss the duties and
responsibilities of an agent.
Step by step
Solved in 2 steps
- How information asymmetry can impact economic efficiency. In your answer cover the following: a) What is principal-agent problem? Support your answer with relevant examples. b) What is efficiency wage? Support your answer with appropriate graph.Have you come across instances of agency problems in your professional or personal life? Please explain briefly ( in 3-4 sentences) who the principal and agent are and what lead to the principal-agent problem. You can also use a recent (preferably after 2015) example from the business world to illustrate the above if you do not have an example from your professional or personal life. Avoid examples of Enron, Goldman Sachs, Bernie Madoff scandal, Boeing, and Worldcom. You can enter your answer as a comment (text, audio, etc.) at the end of the video.correct answers asap
- College Retirement Equities Fund (CREF) is a pension fund that has billions of dollars invested in the stock market. Fund participants recently voted on a proposal that would have placed strict limits on the amount of compensation paid to CREF executives. Why do you think 75 percent of the participants voted against the proposal? Provide an economic argument against the proposal.Analyze the role of employees, change strategy, and the management in reducing chance resistance.Describe the principal-agent problem between firm owners and managers. Make sure you identify the principal and the agent and discuss the information asymmetries and different goals of the two players.
- Bill has been adjudicated by the court to be mentally incompetent. Any contract that bill would enter into would be void? True or falseThere are four categories of formal power ; coercive power , reward power , legitimate power and information power . Explain all of these with examplesWhich of the following statements is correct? a. In a principal-agent model, the party who proposes the contract is called the principal. b. In a principal-agent model, the party who decides whether or not to accept the contract and then performs under the terms of the contract (if accepted) is called the agent. c. In a principal-agent model, the agent is usually the party with asymmetric (or better) information. d. All of the above.
- Salesperson X and Salesperson Y are with the same brokerage office Salesperson X lists a property and Y represents the buyer to whom the property is sold. Which of the following agency relationships BEST identifies Salesperson Y's relationship with the buyer? -buyers agent -sellers agent -dual agent -faciliatorSara is a homeowner looking to sell her house. She hires James, a licensed Florida broker as the listing agent. Eric is a prospective buyer looking to make an offer on Sara's house. How would you characterize each party's role from the seller's perspective? James is the client, Sara is the customer, and Eric is the agent. James is the agent, Sara is the customer, and Eric is the client. James is the client, Sara is the agent, and Eric is the customer. James is the agent, Sara is the client, and Eric is the customer.Nonprofit and public organizations are fundamentally different from for-profit organizations in the sense that they are legally prohibited from distributing profits to employees or board members. A. True B. False