1. Because of ______, the market will provide ______ the socially optimal level of information. A....
1. Because of ______, the market will provide ______ the socially optimal level of information.
A. The credibility problem; more
B. The problem of adverse selection; less
C. moral hazard; more
D. The free-rider problem; less
2. If technological developments increase the marginal product of labor, then the:
A. Supply of labor will increase.
B. Demand for labor will decrease.
C. The equilibrium wage rate will decrease.
D. Demand for labor will increase.
Homework Answers
1)
Answer: ( D)
Under the problem of a free rider, the users are not ready to pay for products or services, or they tend to understate their demands.
2)
Answer: ( D)
When the productivity of labor rises, now it is now more profitable to employ labor. thus demand for labor rises.
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1. Because of ______, the market will provide ______ the
socially optimal level of information.
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