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Which of the following examples is an adverse-selection problem and which is an incentive problem? Explain why. In each case, give one method that the restaurant might use to reduce the problem. (A) A restaurant decides to offer an all-you-can-eat buffet that is sold for a fixed price. The restaurant discovers that the customers for this buffet are not its usual clientele. Instead, the customers tend to have big appetites. The restaurant loses money on the buffet. (B) A restaurant owner hires a manager who promises to work long hours. When the owner is out of town, the manager goes home early. This action results in lost profits for the firm.
Suppose the banking system has vault cash of $1,000, deposits at the Fed of $2,000, and demand deposits of $10,000. A. If the reserve requirement is 20 percent, what is the ma
A company purchased a piece of manufacturing equipment for an additional income. The expected income is $3,500 per semester. Its useful life is 9 years. Expenses are estimated
One way to repay a $5000 loan would be to make four annual end-of-year payments of $ 1000 each, followed by a final payment at the end of the fifth year. Assuming an interest
Beginning in the early 1900s, the federal government and Congress began the creation of administrative agencies, with the first two being the Interstate Commerce Commission (I
In January 2007, XM enjoyed about 58 percent of satellite radio subscribers, and Sirius had the remaining 42 percent. Both firms were suffering losses, despite their dominance
The current population of the United States is 318.9 million with 3% of the population is engaged in R&D at an efficiency rate of 1/500 per million persons per year. If R&D is
Write a select statement that will display customer number, customer name and the number of orders belonging to the customer. You will need to join two tables, use a COUNT a
Suppose Lori has an income of $100 to spend on chocolate bars and ice-cream cones. She faces a price of$1 for chocolate bars. However, the price of ice-cream depends on how mu
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