The is a government agency that protects consumers from dangerous or falsely advertised products.

In the supply-and-demand schedule shown above, at the lowest price of $50, producers supply music players and consumers demand music players.

John is a 45-year-old manager who enjoys playing basketball in his spare time with his teenage sons and their friends. at work he finds that he is better able to solve problems that come up because of his many years of experience, but while on the court, he finds he is not as good keeping track of the ball while worrying about the other players. john's experience is:

Agency costs do not involve costs that are incurred from managers pursuing their own interests at the expense of shareholder value and do not involve costs that are incurred by shareholders to make sure that managers pursue shareholder value.