In the following two questions, the diagrams we should be commented on so that we can understand your answer. A diagram alone is not sufficient. 1- Consider moving from no health insurance to some type of partial health insurance. On an appropriate diagram show: a. The effect on total medical expenditures. Indicate it clearly on the graph. [2 marks] b. The welfare loss due to moral hazard. Indicate it clearly on the graph. [2 marks] c. On an appropriate diagram, show the benefit of health insurance for a risk-averse consumer. Provide an explanation of your diagram. [2 marks] 2- On an appropriate diagram show, what happens to the optimal level of health if one is diagnosed by an irreversible degenerative disease, such as ALS. (hint: Use MEC. A degenerative disease deteriorates health progressively, and it is not reversible). [2 marks]