Question 45 2 pts Moral hazard is the term used to describe the situation in which: a consumer may buy a lowquality product. consumers receive a lower price because of a mistake on the part of the clerk. a consumer is being compensated for a defective product. people may change their behavior after they have signed a contract or agreed to a specied behavior. people want to change their behavior after they have signed a contract or agreed to a specied behavior but are unable to do so. Question 49 2 pts A monopsonist rm pays a price to a factor that is: equal to the marginal revenue product of the factor. greater than the marginal revenue product of the factor. equal to the marginal factor cost. greater than the marginal factor cost. less than the marginal revenue product of the factor