Describe and discuss the underinvestment problem.

Multiple choice are:

it is essentially the mirror image of asset substitution
		shareholders refuse to undertake a low-risk positive-NPV investment because debtholders would gain at shareholders expense
		debtholders would gain from the investment because the probability that they will be fully repaid increases
		an investment with a large-enough positive NPV can overcome the problem of underinvestment
		A and B
		A and C
		A and D
		B and C
		B and D
		C and D
		all but A
		all but B
		all but C
		all but D
		all are true