(a) Does a Principal Agent problem exist between stockholders and managers of a firm? Please give an explanation. (Note: Stockholders are those who own stock (shares) of a company. Managers and workers are employees of the company.)

(b) Does a Principal-Agent problem exist between workers of a firm and consumers of the firms products? Please give an explanation. (Note: Managers and workers are employees of the company. Consumers are customers of the company.)