Identifying agency problems, costs, and resolutions Explain why each of the following situations is an agency prob problem might be handled short of firing the individual$($s$)$ involved.

a$.$ The front desk receptionist routinely takes an extra $20$ minutes of lunch time to run personal errands.

b$.$ Division managers are padding cost estimates so as to show short$-$term efficiency gains when the costs come in lowe

c$.$ The firm's chief executive officer has had secret talks with a competitor about the possibility of a merger in which she

d$.$ A branch manager lays off experienced full$-$time employees and staffs customer service positions with part$-$time or ter branch profit. The manager's bonus is based on profitability.