Firms that have several plants that produce the same or related products are said to be:

The problem created by asymmetric information before the transaction occurs is called ________, while the problem created after the transaction occurs is called ________

A) adverse selection; moral hazard B) moral hazard; adverse selection C) costly state verification; free-riding D) free-riding; costly state verification

The absolute price elasticity of demand for good X is 1.2 when price is measured in dollars. If price were measured in cents, the price elasticity elasticity of demand would equal

A) 1200. B) 12. C) 1.2. D) 0.012.