If quantity demanded for rice falls by 2 when price increases 8, ...

[nenivikky]

If quantity demanded for rice falls by 2 when price increases 8, we know that the absolute value of the own-price elasticity of rice is:
 a. 2.5.
  b. 0.25
  c. 4.0
  d. 0.40.

Question 2

The moral hazard in team production arises from
 a. poorly designed team membership
  b. lack of proper assignment of individual tasks
  c. disorganization in groups
  d. a conflict between tactically best interest and one's duty
  e. insufficient experience

[shoemake]

Answer to Question 1

b

Answer to Question 2

d

[nenivikky]

Great answer, keep it coming

[triiciiaa]

Thanks for the timely response, appreciate it