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Using Grossman’s pure investment model of the demand for health, consider the impact of the following...

  1. Using Grossman’s pure investment model of the demand for health, consider the impact of the following on the marginal efficiency of investment (MEI) and related optimal health stock (include a graph in your explanation):
  1. Rather than having stopped school with a high school diploma, by age 22 Poppy obtained an undergraduate degree in public health. How would this education decision impact her optimal level of health?
  2. Suppose that after age 22 her wage rate stayed the same, what happens to her optimal stock of health capital by age 30?
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