Because managers have less incentive to maximize profits than the stockholders-owners do, stockholders find it costly to monitor managers; thus, they are reluctant to purchase equities.
a. agents; agents
b. agents; principals
c. principals; agents
d. principals; principals

b.

Explanation:

The manager is an agent of th stockholders-owners, who is the principal

An agent is like a representative and should act in the interest of the principal, but as the interest of the two may conflict, you have this agent-principal problem

managing the colonial war effort while also forcing for and moving towards america's independence was the major agenda of the debate in course at the second continental congress. the delegates at the congress also adopted the united states declaration of independence, in so doing acting as the ''de facto'' national government of what later became the united states of america