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WHich of the following is an example of an adverse selection problem and which is a moral hazard incentive problem? In each case, give one method that the restaurant might use to reduce the problem
1) A restaurant decided 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
2) 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.
3) An optional dental plan is offered to the employees of the restaurant. The restaurant pays 80% of the dental premiums. Employees who elect dental coverage pay the remaining 20% of the dental premiums. The costs of the employee dental plan have been skyrocketing 35% per year. In 2005, 79% of the employees chose dental coverage. In 2006, 59% of the employees chose dental coverage. In 2007, 39% of the employes chose dental coverage.
Outline the extent to that you expect regional economic integration to occur in Europe, Asia.
Assume the station plans to give away the videos. How many dvds should it order. From which supplier.
Assume an economy's real GDP is $30,000 in year 1 and $31,200 in year 2. What is the growth rate of its real GDP?
Illustrate which loan carries the lower effective rate. Consider fees to be the equivalent of other interest.
When 50 employees are used, the average product of labor is 50 and the marginal product of 50th worker is 75.
Describe the need for federal government interventions in these crisis.
Suppose that in a city there are 100 identical self-service gasoline stations selling the same type of gasoline.
The marketplace is saturated with modems, and your sales department has been able to identify only one potential buyer of your modems.
A firm in an oligopolistic company has the following demand and total cost equations Maximum quantity at which profit will be at least $850.
Atlantis is a small, isolated island in South Atlantic. The inhabitants increase potatoes and catch fresh fish. The accompanying table shows the maximum yearly output combinations of potatoes and fish that can be produced.
They could have rented it on the open marketplace for $700 per month. The condo owner was formerly renting the unit for $500 every month.
Assume that there are many countries capable of producing two goods, and that each country has only one factor of production, labor.
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