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- Suppose you are told that electronic cigarettes cause health problems such as depression and problems with arteries. You also are told that electronic cigarettes do NOT produce second-hand smoke, meaning that e-smoking (called "vaping") by one person does not harm a person standing nearby. How might economists respond? A standard welfare economist would say that e-smoking imposes an externality if health insurance is pooled and a. premiums are shared. A standard welfare economist would say that e-smoking does not increase social costs, unless having health O b. insurance makes people more likely to use electronic cigarettes. A behavioral economics would ask if people who use e-cigarettes become addicted. C. All of the above. d.What Social Determinant of Health is the most important in determining better health and health outcomes?Suppose that an individual's demand curve for doc-tor visits per year is given by the equation P = 500- 25Q, where Q is the number of doctor visits peryear and P is the price per visit. Suppose also thatthe marginal cost of each doctor visit is $100.a. How many visits per year would be efficient?What is the total cost of the efficient numberof visits?b. Suppose that the individual obtains insur-ance. There is no deductible, and the coin-surance rate is 50 percent. How many visitsto the doctor will occur now? What are theindividual's out-of-pocket costs? How muchdoes the insurance company pay for this individual's doctors' visits?c. What is the deadweight loss (if any) causedby this insurance policy?
- Suggest a relevant government policy that would yield the efficient outcome andcarefully explain the process through which the implementation of thegovernment policy will lead to the optimal outcome for better health care.Can Entreprenuership be thougth?The goal of health insurance is to O spread financial risk over a large group of people O equally distribute the probabifity of loss over a large number of people collect sufficient premiums to cover all possible losses O equalize the availability of medical care across population groups O redistribute income from the sick to the healthy
- In one thinks in terms of marginal costs vs. marginal benefit why should we not double the government's expenditure on medical care3. What are the appropriate government responses to health externalities such as smoking, drinking, and obesity? Give examples.To what extent can the government improve economic situation by changing theinterest rate?
- Suppose you’re trying to get your friends to go todinner with you. Would it be wiser to frame thedecision as costing only $5 more than the foodthey’d make for themselves, or that it will cost$5 less than every other restaurant around town?People make decisions by comparing marginal benefits with marginal costs. An optimaldecision requires that marginal benefits are above below or equal to marginal costs?Using data from the last 10 semesters in ETC2410, we have observed that students who attended tutorials obtained a higher mark on the final exam, on average, relative to those who did not attend tutorials. From this observation alone we can say that Select one: tutorial attendance is a good predictor of performance on the final exam O a. O b. tutorials are an essential component of learning in ETC2410 O c. if we had forced students who attended all tutorials not to attend any tutorials, they would have obtained a lower mark on their final exams, on average O d. tutorials cause better performance on the final exam O e. if we had forced students who did not attend tutorials to attend all tutorials, they would have obtained a higher mark on their final exams, on average