You have owned and managed an independent furniture store for 20 years in the big city. You will now open a 2store in a far away city, you will have to hire a manager for that store. QUESTONS: a) Carefully describe a specific principal-agent problem that can arise in this specific situation b) Carefully describe actions, specific to this example, that you may take now to ameliorate the principal-agent problem that you described in part (a). (Clearly label each answer or you will receive no credit for your answers)

You have owned and managed an independent furniture store for 20 years in the big city. You will now open a 2store in a far away city, you will have to hire a manager for that store. QUESTONS: a) Carefully describe a specific principal-agent problem that can arise in this specific situation b) Carefully describe actions, specific to this example, that you may take now to ameliorate the principal-agent problem that you described in part (a). (Clearly label each answer or you will receive no credit for your answers)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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