Need assistance on a 2 part question3Which of the following results from providers having more information about treatment alternativesthan their patients?OA. Principle-agent problem.OB. Rational ignorance.OC. Externalities.OD. Adverse selection.OE. The substitution effect.Reset SelectionShow Transcribed TextGSONUS MOOERThe optimal level of output may be defined as that level of output whereO A. average benefit exceeds average cost by the greatest amount.B. total benefit equals total cost.C. marginal benefit exceeds marginal cost by the greatest amount.OD. the marginal benefit of the last unit purchased equals its marginal cost.E. it is impossible to define optimal in any meaningful way.Reset Selection

Adverse selection is a concept in economics and insurance that describes a situation where one party…

Which of the following results from providers having more information about treatment alternatives than their patients? O A. Principle-agent problem. OB. Rational ignorance. OC. Externalities. D. Adverse selection. OE. The substitution effect. Reset Selection

Which of the following results from providers having more information about treatment alternatives than their patients? O A. Principle-agent problem. OB. Rational ignorance. OC. Externalities. D. Adverse selection. OE. The substitution effect. Reset Selection

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

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