Author Question: Moral hazard is associated with A) imperfect information. B) perfect information. C) the low ... (Read 103 times)

NClaborn

  • Hero Member
  • *****
  • Posts: 560
Moral hazard is associated with
 A) imperfect information.
  B) perfect information.
  C) the low costs of monitoring behavior.
  D) all of these choices.

Question 2

For a firm that is competitive in both product and factor markets, the value of the marginal product of labor:
 a. is constant and equal to the market wage.
 b. increases, causing the labor supply curve to slope upward.
 c. declines because the marginal product of labor diminishes as the number of workers rises.
  d. declines because a competitive firm must lower product price in order to increase sales.



cswans24

  • Sr. Member
  • ****
  • Posts: 317
Answer to Question 1

A

Answer to Question 2

c



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

For a complete list of videos, visit our video library