Which of the following CORRECTLY characterize principals and ...

[HCHenry]

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.

Question 2

In the above figure, when the efficient quantity is produced the marginal social benefit of the last magazine is
 
  A) 1.
  B) 3.
  C) 5.
  D) some amount not given in the above three answers.

[DylanD1323]

Answer to Question 1

C

Answer to Question 2

B

[HCHenry]

YES! Correct, THANKS for helping me on my review

[jomama]

Thanks for the timely response, appreciate it