Why is depreciation of capital good a cost of society

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Q. Why is depreciation of capital good a cost of society? In illustrate what ways does a person's health depreciate? Why might older people's health care expenditures increase in Grossman model even though their desired health stocks may be lower? List at least three factors that might increase an individual's marginal efficiency of investment in health capital.
Deductible feature of an insurance policy can affect impact of moral hazard. Explain this in context either of probability of treatment and/or amount of treatment demanded. Describe benefits to society from purchasing insurance. Describe costs. Define and discuss welfare gains from changes in insurance coverage.

If only risk-averse people will buy health insurance, why do many people who buy health insurance also buy lottery tickets (an activity more consistent with risk taking)? Speculate on differences and similarities.

Why are firm-specific demand price elasticities higher than elasticities for demand in general? Why does a high elasticity indicate a very competitive market?

It has been discovered that countries with higher per capita incomes spend more than proportionally as much on health care. Illustrate what does this imply about cross-national income elasticities? Why might this occur, even though individual income elasticities seem to be quite low?

Reference no: EM1370977

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