Referring to the below graph, ????1 and ????2 are demand for medical services when the person is uninsured and insured respectively.

Question 4. Referring to the below graph, Dj and D2 are demand for medical services when the person is uninsured and insured respectively. Du $100 MC 0 1 5 6 8 Quantity of medical services (q) a) According to the conventional theory, i. What is the moral hazard? ii. What is the DWL associate with the moral hazard? b) According to the Nyman model, i. What is the efficient moral hazard? ii. What is the inefficient moral hazard? ili. What is the DWL associate with the (inefficient) moral hazard