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John owns an office space and rents it to Joe, Who runs a travel agency.Is the contract between John and Joe an example of efficient
John owns an office space and rents it to Joe, Who runs a travel agency.Is the contract between John and Joe an example of efficient incentive contract?How large should be John's rental fee?Explain your answer with the help of a model, arguments and equations. Give two other example of efficient contract and an example of inefficient contract.
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