Relationship between fast food consumption and obesity

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Reference no: EM133469227

Assignment:

Use what you've learned about the consumer's problem to think about how you would apply this to the following:

1. Obesity has steadily increased in the US since the 1980s, and over 1/3rd of US adults are obese (BMI>=30). A variety of factors have been used to explain the rise in obesity. Suppose we are health economists interested on the relationship between fast food consumption and obesity. Fast food is calorie-dense and some claim it is "addictive".

If the price of fast food falls, then all else equal, how should we expect fast food consumption and weight to change?

If incomes increase, then all else equal, how should we expect fast food consumption and weight to change?

If I wanted to study this using data, what data other than the price of fast food and consumers' incomes should we think about that could affect fast food consumption and weight?

2. Imagine your boss has scheduled an end-of-year meeting with you to discuss how the number of units sold this year. Your boss is happy (upset) because sales were higher (lower) than last year. How would you use the concepts of cross-price elasticity of demand and income elasticity of demand to help explain what happened to sales? Assume the price of your product did not change.

Reference no: EM133469227

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