All else equal, a smaller elasticity of the supply curve to the other firms leads to a ________ individual firm's residual elasticity of demand

The problem of moral hazard arises because _____

a. individuals receive insurance through their employer, who has different incentives b. individuals with insurance have no incentive to avoid insured expenditures c. some individuals have religious objections to purchasing insurance d. some individuals are immoral

After trade opens, the short run impact on the income of the specific factor that is relatively scarce will be

A) a decrease in its income. B) an increase in its income. C) no change in its income. D) indeterminate, income effects are not possible to know.