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Which is the best definition for the term moral hazard?

when consumers must decide whether to purchase goods from firms with potentially objectionable business practices

when one side of an economic transaction has more information about the good being exchanged than the other side has

when people take unwise risks

when people engage in hazardous activities because of a deficient moral code

when businesses pursue profit at the expense of employee well$-$being

when people who are not responsible for the entire costs of their actions take riskier actions than they would otherwise take

when imperfect information implies that people must choose from an undesirable selection of goods

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