Microeconomics, Student Value Edition (6th Edition)
Microeconomics, Student Value Edition (6th Edition)
6th Edition
ISBN: 9780134125756
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Chapter 7, Problem 7.1.6PA
To determine

Health an indicator of standard of living.

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Draw a graph and an argument about how increases in health due to one medical innovation can lead to improvements in health that are not directly affected by that innovation. Does it matter the demographic properties of those individuals whose health is improved by the initial innovation?
improvement in technology usually result in lower cost of production or new and improved consumer goods and services .Assume that an improvement in medical technolgy result in an increase in life expectancy for people 65 years and older . How would this technolgical advance be likely to affect expenditure on health care?
Provide at least five determinants of health at an economic perspective and provide a brief explanation of each determinant.
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