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EnglandEconomicsQuick questions
Component 1: Microeconomics - Business economics and competition
Quick questions on Business objectives and the principal-agent problem - OCR A-Level Economics (H460)
2short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
State the output rule for profit maximisation and explain it. [3 marks]
What is q2?Show answer
Explain how the principal-agent problem can lead a firm away from profit maximisation. [4 marks]
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