Microeconomics (2nd Edition) (Pearson Series in Economics)
Microeconomics (2nd Edition) (Pearson Series in Economics)
2nd Edition
ISBN: 9780134492049
Author: Daron Acemoglu, David Laibson, John List
Publisher: PEARSON
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Chapter 1, Problem 6P
To determine

The economic principle used in each statement.

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Read the following article and then answer the questions that follow: Without question, the most important positive action you can take to prevent illness and disease is exercise. Exercise prevents a long list of diseases that can cause chronic or severe illness, disability, and even death, including cancer, heart disease, stroke, high blood pressure, vascular disease, diabetes, obesity, and osteoporosis. Exercise also prevents mental health illness and disease disorders, including depression, anxiety, and stress. While some of these disease processes can be reversed with exercise and healthy life-style, some cannot. Preventing them from starting is the number one goal. The most negative lifestyle behaviour is smoking. Smoking contributes to the development of almost all diseases, notably cancer, heart disease, high blood pressure, high cholesterol, diabetes, and asthma. Smoking has the following negative health effects: lowers immunity, making you more likely to get bronchitis,…
How would you choose between a diamond and a bottle of water in the different scenarios described in the video? You MUST explain your answer using economic concepts you have learned in the course so far.  What did you or your family do during the severe shortage of toilet paper at the beginning of the pandemic in 2020?  How would you value a bag of 12 toilet paper compared to a diamond back then? Would it be different compared to during normal circumstances? Explain your answer.
The XYZ company is currently evaluating its investment. If Mr. Dela Cruz, the chief operating officer conducted a survey and found that the employees want to put up a gym to make them health conscious, what will you advice Mr. Dela Cruz?  A. put up the gym regardless of their financial condition because it will make the workers happy B. put up the gym if the marginal benefit is found to be greater than the marginal cost C. do not put up the gym because it is just an added cost D. the gym should not be part of the investment decision of the firm E. putting up the gym will always be beneficial
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