All of the questions are included in the screenshot attached QUESTION 4 Moral Hazard: Suppose a smoker

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QUESTION 4 Moral Hazard: Suppose a smoker receives a positive marginal cost in terms of hospital expenditures per cigarette smoked, before health insurance. If the insurance company does not directly observe the number of cigarettes smoked, how much is the marginal cost to the smoker in terms of hospital expenditures per cigarette smoked when insured? Q 0 0 lower than pre-insurance O greater than pre-insurance O the same as pre-insurance QUESTION 5 Take the following demand function: qD(p) = 80 - 4p. What is the marginal revenue function for a firm in a perfectly competitive market? 0 MR = 20 - 0.5q 0 MR = 20 - 0.25q 0 MR = 20 - 0.75q OMR=80-4

Posted Date: Jun 25, 2024 10:06 AM

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All of the questions are included in the screenshot attached QUESTION 4 Moral Hazard: Suppose a smoker

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