What is a moral hazard?
The market failure that results from a change in the buyer's behavior after a purchase as a result of the buyer's belief that losses will be passed on to the seller.
The market failure that results from the seller's inability to exclude individuals who do not pay from benefiting from a product.
The problem that results from the differing incentives between employees and business owners that makes employees more likely to engage in shirking behavior.
The market failure that results In overproduction because producers of the product pass on some of the costs of production to individuals outside of the production process.
The market failure that results in underproduction because one firm has a unique product, and no other firms can enter the industry.