Supply Chain

Please address the following: What is inferior and what does it mean to maximise utility for the average rationale individual? This is an economic strand you may need to research (15 points). Utility is the total satisfaction you receive from purchasing a good or service. To maximise utility you are thinking nearly what you want and how you plot of tail achieve what you want at the best realizable price. list and describe a question-agent blood that you have encountered or faculty encounter in the future (12 points). An example of a principal-agent consanguinity that I have encountered is the politician, which would be the agent and me the voter and I am the principal. In this situation the agent is seek to ge adduce the principal (the voter) to vote for them. They are travel from state to state promising to depart certain things about the economy in ordain to draw off that state on their side. Clearly key who is the agent and who is the principal i n the relationship (5 points). The agent is the politician and the principal is the voter. Explain why the goals of the principal and the agent great power diverge (5 points)? The voter depart want the reasons and causes that the politician was stand for to start to take impression and change at a time.

Once choose the principal cannot happen immediately if the agent is acting in their best interests. The agent readiness also try not to suffocate certain laws because it may be too pricy to them but beneficial to the principal. In an holy person situation what pickaxe and/or election would maximizes th e principals utility and why (10 points). I! n the warning situation the agent (politician) actuall(a)y fixes all they say they will fix, change any laws that are corrupt, and pass laws to better the principals life. The principal will tonus as though their utility is maximized because then everything that wanted to see changed is achieved and everything the agent said they were deviation to do is done. In an ideal situation what choice...If you want to get a full essay, order it on our website: BestEssayCheap.com

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