For this discussion, your focus will be to think through what asymmetric information, moral hazard, and adverse selection have to do with hiring a police officer.

Consider the following statement:

• Many police officer positions require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material.

Instructions:Given the information above, address the following statement:

• Speculate on whypolice departments do not increase their applicant pool by dropping this requirement and how asymmetric information, moral hazard, and adverse selection are involved?

NOTE:DO NOT rely on Wikipedia, Investopedia, or any similar website as a reference or supporting source.