3 The PPF in the Grossman Model 3.1 Draw a PPF for the Grossman Model. 3.2 Is there a section of the Grossman PPF consumers with typical preferences would never pick? If so, highlight this section on your graph and explain why. 3.3 Imagine that a new type of shoe is invented that makes jogging a more effective form of exercise. In other words, the marginal health effect of health investment has increased. Draw the PPF before and after the invention of this new type of running shoe. In your graph, include typical indifference curves and show the effect on H ∗
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