QuestionQuestion

1. Show the effect of the thrifty phenotype hypothesis on the optimal level of health in the Grossman model by doing three graphs: one in the health/rate-of-return plane, another in the health/productive time plane, and another in the health/other goods plane. Label everything carefully. No need to explain; graphs are enough.

2. Carefully explain the productive time hypothesis. Is it more relevant for people with lowor with high levels of health? Why?

3.The first segment of the production possibilities frontier in the health-other goods plane is increasing, while the second segment is decreasing. Explain why this is the case. Also mention which of the two portions is more relevant for the individual (and why).

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Economics Problems
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