A ________ exists when naturally occurring incentives encourage sufficient numbers of people to act in a way that makes everybody worse off

Moral hazard is a problem

A) peculiar to direct finance. B) peculiar to mutual funds. C) arising before a transaction is consummated. D) arising after a transaction is consummated.

A monopolistically competitive firm

a. earns no long-run economic profit and is therefore allocatively efficient b. earns no long-run economic profit and therefore produces at the minimum point of its ATC curve c. earns no long-run economic profit and is allocatively efficient even though it is not producing at the minimum point of its ATC curve d. earns no long-run economic profit, is allocatively inefficient, and does not produce at the minimum point of its ATC curve e. has a chance of making a long-run economic profit and is therefore allocatively inefficient