A firm's demand curve for labor shifts when the
a. price of its output changes.
b. wage rate changes.
c. number of available workers changes.
d. All of the above are correct.
a
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With respect to the health insurance market, what is moral hazard?
A) Moral hazard refers to the actions people take, after they purchase an insurance policy, that make the insurance company worse off. B) Moral Hazard refers to to people who purchase one type of insurance policy when they would have been better off purchasing a different policy. C) Moral Hazard refers to the situation in which a person purchasing an insurance policy takes advantage of knowing more about his health than the insurance company. D) Moral hazard refers to the actions people take before they purchase an insurance policy.
Refer to the scenario above. Alice will earn an expected surplus of ________ if she uses her optimal strategy to win the game
A) $5,000 B) $6,000 C) $30,000 D) $16,000