What is the definition of the term agency problem

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What is the definition of the term agency problem?

a. The difficulties that arise in professional baseball when players become free agents.

b. The difficulties that arise when a principle hires an agency to represent their company.

c. The difficulties that arise when a principle hires an agent and cannot fully monitor the agent's actions.

d. When a principle hires an agent and must monitor every move they make, because they have found the agent to be unethical.

Reference no: EM13729781

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