Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
1. Draw an isoquant graph showing : a) Suppose that John Smith gets promoted to a job that causes two changes to occur simultaneously: John earns a higher wage, and a safer environment causes his health to depreciate less rapidly. How would these two changes together affect John’s desired health capital?b) Suppose that John could work 365 days per year and could earn $200 per day for each day he worked. Draw his budget line with respect to his labor-leisure choice.c) Suppose that John chooses to work 200 days per year. Draw the appropriate indifference, and note his equilibrium wage income and labor-leisure choices.d) Suppose, using information from iii, that John’s wage rises from $200 to $210 per day. Show how his equilibrium level of income and labor-leisure will change.e) Suppose that John is ill ten days per year. Draw the impact of this illness on the equilibrium defined in iii. How will it change his equilibrium allocation of earnings and labor vs. leisure.2) NO graph just the answer, how you got ita) Suppose that Nathan’s employer provides a health insurance policy that pays 80% of $1 over the first $100 spent. If Nathan incurs $1,000 in expenses, how much will he pay out of pocket? What percentage of his expenses will this be?
Question 1(a) John Smith’s desired health capital will increase with increase in his earning despite reducedhealth depreciation. This is because autonomous consumption increases with increase…
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more