In 1886, the price of a 6.5-ounce glass bottle of Coca Cola was priced at 5 cents. In the case of this size bottle of Coca Cola, the price could be considered
A) as remaining sticky in the short run but flexible in the long run.
B) as remaining sticky in both the short run and the long run.
C) as being flexible in the short run, but returning to price stickiness in the long run.
D) as being flexible in both the short run and the long run.
B
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Which of the following is an example of moral hazard?
A) I hire you to work in my garden for a fixed fee, and you work hard all day. B) I hire you to work at an hourly rate and you work as slowly as possible. C) You apply for the job only because I pay a fixed wage per day, no matter how much or little you do. D) You agree to be paid by the weed to work in my garden, and then don't work hard.
Refer to Scenario 5.1. The expected value of the undertaking,
A) according to Sarah, is $75,000. B) according to Sarah, is $100,000. C) according to Sarah, is $110,000. D) according to Aline, is $200,000. E) according to Aline, is $100,000.