Question: Update : Maps Chapter 3 & 4 Quiz. Market Failure Let's say your friend's friend ask if you can lend some money to them. You

Update : Maps Chapter 3 & 4 Quiz. Market Failure Let's

Update : Maps Chapter 3 & 4 Quiz. Market Failure Let's say your friend's friend ask if you can lend some money to them. You are not too familiar with them (they are like an acquaintance to you). Before you decide whether to lend money to them, what information do you want to gather about them? Will you lend to them? Why or why not? How does this connect with market failure? Please make sure you answer all FOUR questions. Monopsony For the following graph, what's the equilibrium wage and equilibrium quantity of workers? Please answer BOTH questions. 30 27 Wage Rate MFC -24 Supply 15 -12 Minimum Wage MRP Quantity of Labor 30 otm Show all X hp

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