Suppose the Refrigerator Repairman Charges You for Two Hours of Labor

question 126

Multiple Choice

Suppose the refrigerator repairman charges you for two hours of labor even though he could have fixed it in ten minutes.This is an example of

• A)natural selection
• B)moral hazard
• C)hidden actions
• D)external costs
• E)hidden characteristics

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Definitions:

System Requirements

The specified configuration of hardware and software needed for a software application or product to operate correctly.

Freeware

Software that is available for use at no cost, often distributed for personal or limited use without requiring payment or licensing fees.

Open Source

Pertaining to software for which the original source code is made freely available and may be redistributed and modified.

Beta Version

A pre-release version of software that is given out to a large group of users to trial under real conditions and identify bugs before the final release.