If peanuts serve as a medium of exchange, a unit of account, and a store of value, then peanuts are

The figure above shows the market for coffee. When the efficient quantity of coffee is produced, the marginal social benefit from the last pound is

A) $1.00. B) $2.50. C) $3.00. D) $4.00.

The tendency for people to enter into agreements in which they can use their private information to their own advantage and to the disadvantage of the less informed party is known as

A) adverse selection B) moral hazard. C) the market for oranges. D) a signal.