If the firm in the figure above is unregulated, the deadweight loss will be

The demand for silver decreases, other things equal, when

A) the gold market is expected to boom. B) the market for silver becomes more liquid. C) wealth grows rapidly. D) interest rates are expected to rise.

In the presence of asymmetric information, a piece-rate contract

A) achieves production efficiency. B) can lead to agents producing more output than would occur under a fixed-rent-paid-to-the-principal contract. C) is impossible to write. D) will result in the principal earning all of the profit.