Adverse selection is a
a. Pre-contractual problem
b. Post contractual problem
c. Post firing problem
d. None of the above
a
Economics
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The above figure shows the market for biologists. The government decides to set a minimum wage for biologists of $18 per hour. After this minimum wage is in effect, the deadweight loss equals ________
A) $400 B) $200 C) $800 D) $1600 E) $100
Economics
Free riding
A) is possible if the consumption of a good is characterized by excludability. B) is possible if the consumption of a good is characterized by nonexcludability. C) is characteristic of private goods. D) occurs when consumers pay too much for services provided by government.
Economics