Moral hazard is associated with
A) imperfect information.
B) perfect information.
C) the low costs of monitoring behavior.
D) all of these choices.
A
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The price elasticity of demand is defined as
a. the absolute change in price divided by the absolute change in quantity demanded. b. the absolute change in quantity demanded divided by the absolute change in price. c. the percentage change in quantity demanded divided by the percentage change in price. d. the percentage change in price divided by the percentage change in quantity demanded.
Given the table below, if capital is fixed at two units, what is the marginal product of the fourth unit of labor? 
Amount of total output produced from various combinations of labor and capital.
A. 100 B. 60 C. 80 D. 420 E. none of the above