A problem with using commodities such as cattle as money is that they cannot be easily divided into fractions (such as pennies to a dollar), and they fail to retain their value very long once they are divided

"People who have dental insurance don't floss often enough." This is an example of

A) asymmetric information. B) bad parenting. C) moral hazard. D) risk adverse behavior

Suppose demand can be described with the equation Q = 900 ? 5P and supply with the equation Q = 100 + 5P

a. Determine the equilibrium price and quantity. b. Determine the surplus or shortage if the price were $100.